By Mike Sunnucks | Phoenix Business Journal
The group trying to buy the Phoenix Coyotes and keep the team from leaving Arizona continues to try to convince Glendale officials to approve a favorable arena deal.
Renaissance Sports and Entertainment needs to forge an arena deal with the city, or a purchase of the Coyotes from the National Hockey League will not happen. The NHL then could sell the team to an owner that would relocate it to another market — likely Seattle or Quebec City — as early as next month.
An executive familiar with the Renaissance bid said the ownership group wants the city to pay $15 million over 15 years to manage Jobing.com Arena. The money would help Renaissance close on the purchase of the team from the NHL, and past Coyotes bidders have relied on favorable city arena deals to help their purchase efforts.
The city of Glendale, however, does not want to pay Renaissance that arena fee.
