Phoenix Coyotes' future undecided; city considers mortgaging buildings

GLENDALE, AZ - Glendale city council members are still debating the future of the Phoenix Coyotes, but before they make a decision, they will first have to decide if they should mortgage other buildings.

City officials are considering mortgaging City Hall, parts of a parking garage and another city-owned building as a way to raise $30 million.

Glendale needs that money to pay off the remaining balance of $50 million the city owes to the National Hockey League for running the Phoenix Coyotes for the last two years.

But Tuesday night, council tabled the decision for another private meeting on Friday. 

At the same time, city council members are also facing another financial decision in regards to the Phoenix Coyotes.

A private owner is considering buying the team, but Glendale would still have to pay around $15 million a year.

The council is expected to vote on a deal next Tuesday, the day before the NHL's deadline for a decision.

Otherwise, the hockey team could move to another city.

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