According to reports, the city of Glendale has paid the NHL $25 million. The city had pledged to pay this amount to cover the Coyotes' losses for this year.
When the NHL took over operations of the Coyotes, it reportedly lost $25 million. To avoid a further loss, the NHL told the city of Glendale if you want to keep the Coyotes, guarantee us this amount if the team is not sold.
One of the changes in the renegotiated purchase agreement appears to be that Hulsizer will no longer refund the $25 million to Glendale. Originally, he was to pay it out of the $100-million he was to receive from the bond sale in exchange for parking rights and other considerations.