Coyotes money left in the parking lot

Jobing.com Arena
Jobing.com Arena

By Caitlin McGlade | The Republic | azcentral.com

Revenue from the Phoenix Coyotes is coming up short for Glendale, which approved a $225 million deal to keep the National Hockey League franchise in 2013.

City leaders expected to see at least $6.8 million in revenue annually from the team to help offset the $15 million the city pays each year for team owners to manage Jobing.com Arena. The revenue comes from ticket surcharges, parking fees and a split of naming rights for the arena.

Halfway through the fiscal year, the city has collected $1.9 million from those sources, and nearly $2.3 million when including sales-tax revenue from the arena.

The shortfall largely stems from lagging parking revenue. Team owners implemented a $10 to $30 parking fee for the first time this season, but many fans apparently found other options.

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