Jul 3, 2013, 2:02 AM EST
The former Phoenix Coyotes — now the Arizona Coyotes — will stay in Glendale.
Well, for a little while longer.
In a 4-3 vote, the City Council has approved prospective Coyotes owner Renaissance Sports & Entertainment’s (RSE) 15-year, $225 million lease agreement for Jobing.com Arena. That will pave the way for RSE to buy the team with the goal of keeping them in Glendale.
At the same time, this isn’t necessarily the end of the Coyotes’ long saga.
While this deal will give the franchise another shot, RSE did retain an out-clause that can be activated if the team’s losses reach a cumulative total of $50 million or more within the first five years of this agreement.
Conversely, Glendale doesn’t have an out-clause.
That being said, RSE added a “make whole” component that would provide the city with some compensation should the team relocate, according to Yahoo! Sports’ Nick Cotsonika.
RSE will also have the backing of the Philadelphia Flyers’ owners, Global Spectrum.
“Combining Global Spectrum’s management of the stadium next door with the efforts at the arena creates unique operating efficiencies that will be financially beneficial to both venues,” Flyers president Peter Luukko said prior to the vote.
So the long-term future of the Coyotes is still very much in doubt. But at least it looks like they’ll have something that they haven’t had since 2009:
Dec 20, 2013, 1:37 PM EST
He went two years between NHL contests.
Dec 20, 2013, 1:24 PM EST
TSN’s Darren Dreger believes it’s likely.
Dec 20, 2013, 1:14 PM EST
Pittsburgh defenseman returned to practice on Friday.
Dec 20, 2013, 12:46 PM EST
Will take on the Devils in Jersey.
Dec 20, 2013, 12:31 PM EST
“We have players turning right back into the defensemen when he’s already committed to the hit.”
Dec 20, 2013, 12:23 PM EST
Acquired from Edmonton yesterday.
Dec 20, 2013, 11:55 AM EST
“You want ‘em both?”
Dec 20, 2013, 11:54 AM EST
Four straight solid starts for the 36-year-old veteran who fell on hard times last season.
Dec 20, 2013, 11:32 AM EST
He’ll face the Panthers tonight.
Dec 20, 2013, 11:13 AM EST
Canucks lost 4-1 to Dallas last night.
Dec 20, 2013, 11:07 AM EST
Meanwhile, Darryl Sutter says it shouldn’t have been a major penalty.
Dec 20, 2013, 9:45 AM EST
Impressing a legend is lofty praise.
Dec 20, 2013, 9:36 AM EST
He won the Stanley Cup and an Olympic bronze medal.
Dec 20, 2013, 9:00 AM EST
Sharks rookie Tomas Hertl was injured on the play.
Dec 20, 2013, 8:00 AM EST
That and the rest of the links to start your day.
Dec 20, 2013, 1:19 AM EST
Patrick Marleau spoiled it.
Dec 19, 2013, 11:30 PM EST
The Kings captain was suspended in April.
Dec 19, 2013, 11:12 PM EST
Not slacking off following that contract extension.
Dec 19, 2013, 11:01 PM EST
Toronto won 2-1 (SO).
Dec 19, 2013, 10:48 PM EST
His Goal of the Year entry …
- Orpik: First days after Thornton attack were ‘miserable’ 5
- Video: Dustin Brown ejected for kneeing, Tomas Hertl won’t return (update) 60
- No supplemental discipline for Caps’ Wilson 31
- Habs healthy scratch Briere for first time this season 7
- Chiarelli says he’s not trading Marchand 21
- Schenn to play tonight; Oates maintains Wilson hit was ‘totally clean’ 54
- Video: ‘The message is not being heard’ when it comes to illegal hits, suspensions 53
- Video: Kunitz collides with Rangers’ goalie Lundqvist in overtime (Updated) 61
- Discuss: Penguins outlast Rangers in the shootout on NBCSN Rivalry Night 43
- Video: Jagr passes Yzerman for eighth on NHL goals list 12
- Updated: NHL suspends Thornton 15 games for Orpik attack (155)
- Janssen: Orpik should’ve fought Thornton, then ‘everything would have quieted down’ (123)
- Reports: Thornton will appeal 15-game suspension (107)
- Lucic addresses fight video, says he’s ‘disgusted and outraged’ by Vancouver (103)
- Cam Neely questions length of Thornton’s suspension (78)