From The Salt Lake Tribune:
The minor league hockey team now has a partner and the city now owns part of a professional sports franchise. It's not an ideal situation for either party, but the fact is they need each other.
The Grizzlies need a partner to shore up mounting financial losses. The city needs its biggest E Center tenant to keep filling dates and bringing in the crowds.
West Valley City laid out $600,000 to buy a stake in the team, a figure that essentially wiped out what the Grizzlies owed the E Center in rent.