Steve Ellman, principal of the Ellman Cos., handed over a reamof documents to Scottsdale just weeks ago, but has declined to givethem his balance sheet or more sensitive data. Ellman Cos. is aprivately owned company.
Ellman did give the city financial information showing that theNHL Phoenix Coyotes, which is anchor the new development, will make$7.5 million in its first year compared to a loss of that amount atwhere the team currently plays, American West Arena. Ellman, alongwith partner Wayne Gretzky, is in the final stages of purchasingthe team for $87 million.
"We've demonstrated our financial commitment over the past threeyears, investing more than $30 million into this project," says BobKaufman, senior vice president with Ellman. No additionalconfidential information should be needed, he adds.
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