DALLAS — Facing 22 more years of debt service on its Jobing.com Arena, Glendale, Ariz., is seeking a new strategy to keep the Phoenix Coyotes playing in the $180 million venue after a deal to sell the hockey team fell through.

Proposed buyer Matthew Hulsizer withdrew his bid for the team after prolonged negotiations and a failed attempt to finance the sale with $100 million of city-issued certificates of participation. The COP deal was thwarted, in part, by a threatened lawsuit by the Arizona-based Goldwater Institute, which claimed the deal violated the state constitution.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.