Phoenix Coyotes: NHL, Glendale Extend Arena Management Agreement

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Phoenix Coyotes: NHL, Glendale Extend Arena Management Agreement
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According to a report by Lisa Halverstadt of azcentral.com, Glendale City Council has extended its arena management agreement with the NHL by 30 days. This is the fourth time the agreement for Jobing.com Arena has been extended.

The city of Glendale hopes that this additional time will allow the sale of the Coyotes to Greg Jamison to be completed. According to Halverstadt, City Attorney Craig Tindall said, "This provides a period of time that’s necessary to make sure the entire transaction can occur."

The NHL has owned the Coyotes since 2009, and while multiple bids have been made to buy the team, each one has fallen through. Jamison’s attempt to purchase the team started a year ago and has endured a number of ups and downs.

After two years of paying the NHL $25 million to operate and keep the team in Arizona, Glendale City Council approved a 20-year, $324 million lease agreement with Jamison for Jobing.com Arena.

The agreement was announced in June, but at the end of July reports surfaced indicating that Jamison was $20 million short of the NHL’s asking price to purchase the team. However, within two weeks Jamison had secured the money through investors and, according to Mike Sunnucks of the Phoenix Business Journal, the deal was nearing completion.

With September approaching, hockey fans in the desert continue to wait for word regarding the sale of the team and the signing of unrestricted free agent Shane Doan.

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