Glendale Will Vote On Phoenix Coyotes Arena Lease Agreement Today
The Phoenix Coyotes four-year bid for stability will finally come to a close soon. With Tuesday night’s Glendale City Council meeting, the Coyotes will find out if the city will approve an arena lease agreement with Renaissance Sports & Entertainment, which has an agreement in place to buy the franchise from the NHL.
Should the council approve the 15-year, $225 million deal for Jobing.com Arena, the path will be cleared for the Coyotes to stay in Arizona.
A vote against the lease agreement means the Coyotes are almost certainly headed out of town for good.
“I don’t want to be more specific than I’m going to be, but if the council doesn’t approve it so this transaction can close, I don’t think the Coyotes will be playing there anymore,” NHL Commissioner Gary Bettman said at the league’s Board of Governors meeting last week.
The Coyotes’ ownership saga goes back to 2009, when former owner Jerry Moyes took the team into bankruptcy in a failed attempt to sell it to Blackberry founder Jim Balsillie, who would have moved the franchise to Hamilton, Ontario. The NHL and Glendale fought the plan in court and the team was sold to the league later that year.
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