The NHL has exercised its option to take $25 million from the city of Glendale to cover losses by the Phoenix Coyotes this season. The city had placed the money in escrow a year ago at the NHL's insistence to cover such losses if the sale of the team had not gone through by the end of this season. Read more: http://sports.espn.go.com/nhl/news/story?id=6472898
