SCOTTSDALE WANTS ELLMAN TO OPEN HIS BOOK TO PROVE FINANCIALS

          The Scottsdale AZ City Council has requested records to
     find out if developer and prospective Coyotes Majority Owner
     Steve Ellman "has the financial muscle to pull off" the
     $550M Los Arcos arena and entertainment project, according
     to Scutari & Rozemburg of the ARIZONA REPUBLIC.  Scottsdale
     City Attorney David Pennartz sent a letter to the Phoenix-
     based Ellman Cos. on Thursday asking whether the firm has
     the "financial wherewithal required to successfully complete
     the project" and to respond to the request before the
     council's next public meeting on August 21.  Ellman Senior
     VP Bob Kaufman said that the firm has spent $46.5M on the
     project, $16.5M of which is a non-refundable payment for the
     team.  Kaufman: "Over the past three years, we have
     demonstrated a financial capacity and commitment to this
     project.  We'll give an appropriate response to the council
     before they meet in August."  Council member George Zraket
     said, "We don't know if he can pull this off.  We have to do
     our due diligence" (ARIZONA REPUBLIC, 7/29).