Phoenix LXVI: Get Your Kicks On Thread LXVI
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12-05-2012, 02:15 PM
Join Date: May 2010
Location: Between the Pipes
Originally Posted by
Sonu Munshi article on Moody's downgrade of Glendale here:
Choice craziness from the article:
Glendale still owes $152 million of the $180 million it borrowed to open Jobing.com Arena in 2003. An additional $200 million is owed on Camelback Ranch Glendale, the city’s spring-training ballpark, as payments so far have only covered interest. Glendale staff has predicted the city could save about $28 million by refinancing a portion of its $1.1 billion debt load, easing the way out of a financial landmine. .
So far the CoG has only paid down $28M on the arena, only interest for Camelback ranch, and have a $1.1B debt load..... Sure sounds like a good idea to give Jamison $308M.
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