By Aaron Kuriloff | The Wall Street Journal
The Arizona Cardinals are one of the National Football League’s hottest teams, leading their division with a 4-2 record.
Their stadium, however, is on a losing streak with investors. Its operator, along with the Arizona Department of Revenue, has lost two court rulings since last year over the legality of rental-car taxes used to fund the $455 million University of Phoenix Stadium in Glendale. The battle threatens the authority’s capacity to collect revenue that accounts for nearly a third of the stadium’s bond payments.
A lawyer for the operator, the Arizona Sports and Tourism Authority, said he expects the state agency to prevail on appeal.
