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Glendale City Council to vote on contract to hire arena consultant

Los Angeles Kings v Phoenix Coyotes - Game Two

GLENDALE, AZ - MAY 15: A general view of fans outside Jobing.com Arena prior to Game Two of the Western Conference Final between the Los Angeles Kings and the Phoenix Coyotes during the 2012 NHL Stanley Cup Playoffs at Jobing.com Arena on May 15, 2012 in Phoenix, Arizona. (Photo by Christian Petersen/Getty Images)

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According to Mike Sunnucks of the Phoenix Business Journal, the City of Glendale is looking into a new way to figure out what to do about finding a new owner and/or someone to run Jobing.com Arena.

The Glendale City Council will vote whether or not to offer a contract to Beacon Sports Capital Partners LLC worth $25,000 and another $400 an hour for them to advise the city on how to proceed in finding a new owner for the Coyotes. According to city documents the total cost of the contract is worth $100,000.

All told, if that kind of investment can unearth an owner and someone to operate the arena, it’s worth the money. If it fails, it’s just more money the city is throwing down a hole in hopes of keeping the team.

The city was ready to pay former Sharks vice president Greg Jamison $300 million to take over the team and operate the arena, but he failed to buy the team by the January 31 deadline despite working hard to find others to invest in the team. The Coyotes have been without an owner since 2009.