America West Arena Asks Phoenix To Help Pay For Upgrades

America West Arena, "facing a hard time borrowing most of the $40[M] it needs to overhaul the complex, is turning to Phoenix for help," according to Elvia Diaz of the ARIZONA REPUBLIC. Arena officials asked the city to "back private loans for the upgrades," saying that sports facilities across the country "are having a difficult time borrowing at lower interest rates." But Phoenix officials said that the city "can't sponsor private loans." Diaz: "Instead [city officials] are suggesting giving the arena $3.5[M] to make up for money already spent on improvements at the complex." America West Arena GM Paige Peterson said of the city's decision, "The renovations will move forward. It's just a matter of time" (ARIZONA REPUBLIC, 12/11).