Updated Nov 27, 2012 - 10:29 pm
Glendale approves Phoenix Coyotes lease agreement
Glendale officials approved a proposed $320 million deal to keep the Phoenix Coyotes at Jobing.com Arena on Tuesday night.
The new deal was passed by a 4-2 vote.
The renegotiated deal would help Glendale lower payments in the early years of the 20-year deal and would save the city $4 million.
Potential owner Greg Jamison and his group of investors can now take the next step in attempting to complete the purchase of the Coyotes. He has expressed an interest in moving quickly to close the deal with the league.
According to the lease agreement, Jamison has until Jan. 31 to complete the sale of the team. During the meeting, he said he was hoping to complete it within the next 30 to 60 days.
The NHL has owned the franchise since 2009.
- Phoenix Coyotes CEO: Dave Tippett 'a scientist when it comes to the sport'
- 2013-14 playoff berth for Coyotes ‘incredibly important' to franchise turnaround
- 'Yotes Notes: Rough 3rd period buries Phoenix Coyotes in Montreal
- Phoenix Coyotes captain Shane Doan opens up about illness, timetable for return unknown
- 'Yotes Notes: Loose puck battle proves to be the difference, as Phoenix falls to Carolina
- Anthony LeBlanc, Coyotes President and CEO - Wednesday December 18Anthony LeBlanc, Coyotes President and CEO talks about the teams season so far.
- Antoine Vermette, Coyotes Center - Wednesday December 11Antoine Vermette discusses his two-goal performance against the Avalanche Tuesday.
- Dave Tippett, Coyotes head coach - Wednesday December 11The Yotes grabbed a solid bounce back win over the Avalanche.
- Mike Ribeiro, Phoenix Coyotes center - Thursday December 5The biggest takeaways from Wednesday night's game against Calgary.
- Dave Tippett, Coyotes head coach - Thursday December 5Tippett discussed goalie Mike Smith's inconsistency.