Login

Register | Forgot Your Password? | Close
Register | Forgot Your Password? | Close
Bonneville Phoenix Network
 KTAR News
 Arizona Sports
Login or Register
Nearly 48 hours after NHL Commissioner Gary Bettman publicly put pressure on the City of Glendale to make a decision regarding the Phoenix Coyotes' future in the Valley, it seems a reported hitch in the potential Jobing.com Arena lease agreement between the City Council and the team's ownership group, Renaissance Sports and Entertainment, might have been resolved.

According to FOXSportsArizona.com's Craig Morgan, RSE needs an an estimated $15 million annually to manage the arena -- only $6 million of which the city has approved in its budget.

However, Morgan reported Friday that the group, headed by George Gosbee and Anthony LeBlanc, was "able to find multiple Coyotes-related revenue streams for Glendale that will provide the city between $8 million and $11 million annually."

The additional revenue streams will, in some manner, account for the difference between the amount RSE is seeking and the amount Glendale has budgeted, although specifics of the proposal are not known.

With the hurdle of the lease gap expected to be a non-issue for the two sides as of Friday night, Sportsnet's John Shannon reported that the City of Glendale and RSE have agreed in principle on the terms of the agreement.

The lease agreement proposal will officially be reviewed Tuesday at the City Council's executive session.

Arizona Sports,

share this story:
Attention ArizonaSports.com Comment Users: We have recently changed our comments boards.
We would like you to be part of the conversation with all fans of Arizona sports teams by logging in with your Facebook, Twitter, Google+ or Disqus account. Existing Arizona Sports (KTAR) account members will need to create a Disqus account or use one of the aforementioned social media logins. Thank you.
comments powered by Disqus
Standings
Schedule
Team Leaders
close

Share: