By Caitlin McGlade, The Republic | azcentral.com
In the first year of a 15-year deal between Glendale and the Phoenix Coyotes, the money is coming up short, adding yet another expense for a city dogged by sports-related debt.
As part of the $225 million agreement, which was signed by city leaders and the owner of the Coyotes in July to keep the team in town, Glendale expected to recoup $6.8 million this year from sources that include ticket sales, parking receipts and naming rights for the arena.
But too few non-hockey events at the Jobing.com Arena and lackluster revenue from parking means the city likely will get just $4.4 million.
Two City Council members already are calling to renegotiate the agreement with Coyotes owner IceArizona, but that’s unlikely to gain traction with the majority of the council.
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