City records show nearly $45 million loss on Gila River Arena management

glendaleBy Darrell Jackson | The Glendale Star

In response to a council item of special interest requested by Councilmember Lauren Tolmachoff, and after the city approved a new five-year contract April 26 with AEG Facilities LLC., new documents show how much Gila River Arena has cost the city in arena management.

Beginning in 2010-11, the city paid the NHL $25 million and another $20 million in 2011-12 for arena management. Since IceArizona took over management of the arena, the city has paid it $35,051,370 for the three years it has managed the arena. The city still owes the NHL $5 million on the second payment that is due in fiscal year 2016-17.

A majority of the payments made by the city have been in arena management fees since 2010-11. That was when the National Hockey League took over the team after former owner Jerry Moyes filed for bankruptcy.

Continued:

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