Phoenix Coyotes Expected To Remain In Arizona
The Arizona Republic/Phoenix Gazette reports that The City of Glendale should have a deal in place shortly to keep the Phoenix Coyotes in Arizona.
The Coyotes are still owned by the NHL but Glendale has subsidized the team over the last three years to the tune of $25 million per season.
A majority of the city council (four of seven) have agreed to a deal which would pay the new owners a fee for running the arena. The fee is expected to be $17 million next season, $20 million until 2017 and $15 million after that in a 20 year deal.
Former Coyotes owner Jerry Moyes asked the city to help out with $12.5 million before he went bankrupt, but Glendale refused. Former San Jose Sharks President Greg Jamison is looking to purchase the team and this incentive can only help.
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