Ever since the franchise declared bankruptcy last year and the National Hockey League absorbed the Coyotes for $140 million, the league has been seeking to unload the under-performing club to a new bidder. Furthermore, local Glendale residents and political officials have expressed outrage at the mere threat of offering tax incentives for suitors.

That hasn’t kept Jerry Reinsdorf, Chicago-based owner of the Bulls and White Sox, from throwing his hat in the ring. Albeit, the hat has multiple strings attached that would allow him to walk away if the numbers don’t add up to his liking with substantial subsidies funded ultimately by local sports fans.

The other less attractive bid (if that’s possible) has emerged from Ice Edge Holdings. COO Daryl Jones said that $6-11 million per year must come from Glendale, AZ taxpayers’ pockets for the deal to get finalized.

Talk about being between a rock and a hard place. There appears to be no immediate answer for all parties to be satisfied, but one thing is for sure. The locals have shelled out enough cash in recent months, and can not afford to have sports franchises use their public funds like their personal piggy bank.