Jul 3, 2013, 2:02 AM EDT
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:
Apr 27, 2015, 6:16 PM EDT
One Game 7 and one team hoping to force another.
Apr 27, 2015, 5:28 PM EDT
Tom Stillman did say “I’m sure there’ll be changes” following another first-round playoff defeat.
Apr 27, 2015, 4:56 PM EDT
Expected to make full recovery within 4-6 weeks.
Apr 27, 2015, 4:11 PM EDT
Former Maple Leaf and Red Wing appeared in over 1,200 career games, winning five Stanley Cups.
Apr 27, 2015, 3:11 PM EDT
Kevin Bieksa and Dan Hamhuis were each asked if they’d be willing to waive their no-trade clauses.
Apr 27, 2015, 2:47 PM EDT
Flames head coach Bob Hartley confirmed the decision on Monday.
Apr 27, 2015, 1:40 PM EDT
Tournament will be a big one for the Flyers forward.
Apr 27, 2015, 1:17 PM EDT
Thus ending the Scott Darling era… for now.
Apr 27, 2015, 1:00 PM EDT
New building could open by the fall of 2017.
Apr 27, 2015, 12:45 PM EDT
Diminutive forward left Game 5 after taking a shot to the helmet.
Apr 27, 2015, 12:31 PM EDT
Tournament begins May 1 in the Czech Republic.
Apr 27, 2015, 11:59 AM EDT
Interference aside, Tampa Bay has had no shortage of power-play time.
Apr 27, 2015, 11:52 AM EDT
Referees Dan O’Rourke (No. 9) and Dan O’Halloran (No. 13), linesmen Greg Devorski (No. 54) and Michel Cormier (No. 76).
Apr 27, 2015, 11:35 AM EDT
Pittsburgh has a lot of cap space tied up in two players.
Apr 27, 2015, 11:17 AM EDT
Washington makes a lineup change in advance of Game 7 versus the Isles.
Apr 27, 2015, 10:59 AM EDT
“I spent seven years there.”
Apr 27, 2015, 10:53 AM EDT
“I’m on my way to coming back. I’m just going through the protocol.”
Apr 27, 2015, 10:07 AM EDT
Boston will also interview Ray Shero and Paul Fenton.
Apr 27, 2015, 9:45 AM EDT
Injury information trickling in following Ottawa’s Game 6 loss.
Apr 27, 2015, 9:15 AM EDT
He was one of Pittsburgh’s final cuts in the fall.
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