Report: Coyotes’ arena financing plan in trouble
More bad news for the Arizona Coyotes in their quest to build a new arena and remain in the Phoenix area.
From the Arizona Republic:
A plan that would provide $225 million in public financing for a new $395 million Arizona Coyotes arena likely does not have the votes to pass the state Senate, key lawmakers told The Arizona Republic/azcentral Thursday.
Sens. Debbie Lesko, R-Peoria, and John Kavanagh, R-Fountain Hills, said they definitely were going to vote against the plan, while Minority Leader Katie Hobbs, D-Phoenix, said there is little support among the chamber’s 13 Democrats. Meanwhile, Senate President Steve Yarbrough, R-Chandler, said he had “serious reservations” about the plan that would allow the National Hockey League team to build an arena in downtown Phoenix or the East Valley.
It would take at least 16 votes to pass Senate Bill 1149 in the GOP-controlled Senate, where Republicans have a 17-13 advantage. Statements from those lawmakers make it appear unlikely that there is enough support to move the plan to the House. ... A vote before the full Senate could occur next week.
The financing plan is being championed by Sen. Bob Worsley, a Republican.
“I’m not a hockey fan but I’m a business guy and I want to save any business of this magnitude from leaving and impacting thousands of jobs,” Worsley said earlier this month, per Arizona Sports. “We would go out of our way in the Legislature to see what we could do if there was a company considering leaving so it’s appropriate to say, ‘what can we do to help?’”
In light of today’s news, Worsley’s words do not bode well for the Coyotes, who have no intention of remaining in Glendale long term.
The team, still holding out hope, told the Republic, “There are a lot of moving parts in this legislative process and everything is malleable and open for discussion until the very end. We will continue to educate lawmakers about a complex project that creates a true public-private partnership and offers the Coyotes an economically viable solution to remain in the Valley for the long term.”