Skyline_BNR34 wrote:
But that's not the guy who was planning to buy the Yotes though. Who is or what is the guy suing for and what does he gave to do with the yotes?
Short version:
The new lease agreement calls for Glendale to give Hulsizer $100M up front, but recoup that money through parking fees and naming rights to certain things over the life of the lease. However,multiple studies of the revenues generated show that Glendale will never get their $100M back in full over the lease term.
The Goldwater Institute is a public policy organization. They do a lot of stuff, but one thing they do is watch for government agencies that do things they think violate laws, and go after them.
Arizona has a law that prohibits public money being used as a gift to a private business. The Goldwater Institute has alleged that because it's known in advance that Glendale will never get their money back in full, giving them the money would be a gift, and illegal under Arizona law. Basically : If I loan you $40 knowing that you'll only ever give me $20 back, I gave you a gift of $20.
So, they're basically saying 'If you do this, we will sue you for violating the gift law." The threat of a lawsuit is holding up the bond sale, which Glendale was going to use to generate the $100M. Glendale is now suing back, saying that because Goldwater is threatening to sue, thy're jeopardizing the lease agreement, and will cost Glendale money.
It's ugly, and all these lawsuits will probably cause the NHL to give up and move north.