Skip to main content

Goldwater Institute still plans to challenge Coyotes sale despite new terms

PHOENIX - The Goldwater Institute is still planning to legally challenge the proposed sale of the Phoenix Coyotes to Matthew Hulsizer despite the Chicago businessman's willingness to change the terms of the deal.

In a statement Monday, the institute said Hulsizer's changes to the deal are a step in the right direction, but the terms of the sale are still unconstitutional under Arizona law and a risk to taxpayers.

On Sunday, Hulsizer said he will guarantee US$75 million of the $100 million in bonds that the City of Glendale has agreed to sell to help fund the purchase of the team, currently owned by the NHL. He said the other $25 million was going to be paid in cash to the city.

The Goldwater Institute said the revised deal still violates the Arizona state constitution regarding public financing of private transactions.

"The offer recognizes the significant risk to taxpayers under the current deal and to that extent is a positive development," Goldwater Institute president Darcy Olsen said in the statement. "Regrettably, however, the proposal fails to remedy the core legal violation at issue, leaving the expensive taxpayer gamble intact."

Goldwater says it will file a lawsuit if the bonds go on sale.

TOP HEADLINES

USATSI_18159819

Stanley Cup Playoff Preview: Who Will Prevail in Round 2

The second round of the Stanley Cup playoffs are upon us, and Adam Proteau shares his thoughts on the four exciting matchups.

Yaroslav Askarov

Predators Sign Top Prospect Yaroslav Askarov

The Nashville Predators have signed top goaltending prospect Yaroslav Askarov to a three-year NHL entry-level contract.

Screenshot_1

Hockey Things: What Caught Our Eye (May 16th Edition)

Brady Tkachuk has hopped on the Flames bandwagon, Carter Verhaeghe is Mr. Clutch and Emily Kaplan shows once again why she's one of the game's hockey personalities.