Well its all a moot point since news just broke that they reached a deal with ASU, but I figured the losses would be such that it would be better to buy and flip Gila River. Both the Montreal Forum and Maple Leaf Gardens were also retrofitted into useful stuff. Yes it would have no value as an arena at that point but it would be worth something at the rate Westgate is growing and it would seem from a distance to be less of a money loser than playing in front of 5K fans at ASU.
The Forum and MLG were both in extremely prime and valuable downtown locations. Both had historical significance.
GRA's location isn't worth nothing, but what we keep being told is that the location is the problem for the Coyotes. And nobody is going to care about the history of GRA/jobbing.com arena/Glendale Arena.
Not to mention I question whether Glendale could even have a civil conversation with the Coyotes, never mind negotiate a 9-figure deal.
But as you say - it's a moot point.