View Single Post
12-05-2012, 01:15 PM
Registered User
cbcwpg's Avatar
Join Date: May 2010
Location: Between the Pipes
Country: United Nations
Posts: 8,999
vCash: 500
Originally Posted by CGG View Post
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 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.

cbcwpg is offline