Group warns lawsuit over Coyotes sale

ESPN reports:

A Phoenix watchdog group announced Tuesday it will sue the city of Glendale if the proposed deal to sell the NHL's Phoenix Coyotes to Chicago businessman Matthew Hulsizer is completed.

The conservative Goldwater Institute said after examining more than 1,000 pages of documents provided by the city under a court order, it believes Glendale's hockey deal would illegally subsidize a private business and put taxpayers at risk.

The city aims to sell bonds to pay Hulsizer $100 million. In return, Glendale would get the right to charge for parking during Jobing.com Arena events to pay the bond debt. The city also would pay Hulsizer $97 million over the next five years to manage the arena.

What a scam.