The Glendale Republic
A council majority on Tuesday approved a $320 million arena-management deal and lease with Coyotes suitor Greg Jamison that should keep the hockey team as the anchor tenant at the city-owned arena for the next 20 years.
From here, Jamison said he hoped to complete his purchase of the team in the next 30 to 60 days. He is expected to pay $170 million to the National Hockey League, which has owned the team since 2009 after the former owner filed the franchise into bankruptcy.
The former president and CEO of the San Jose Sharks noted he would be an ally of the city’s. “The major-league franchise has a very strong obligation to be a partner with the city it resides in,” Jamison said.
The agreement passed on a 4-2 vote. The majority said the deal was in the city’s long-term financial best interest and upheld its vision for a sports and entertainment district that began in December 2003 with the opening of Jobing.com Arena.