The status of the Phoenix Coyotes has been up in the air for the past few years, but a big step was taken on Wednesday when it comes to keeping the team in its current locale.
According to Greg Wyshynski of Yahoo! Sports, the Glendale City Council voted in favor of a 15-year, $225 million lease of Jobing.com Arena to Renaissance Sports & Entertainment, which is the group that intends to take over the Coyotes.
Despite the fact that the lease was passed, it was far from unanimous. According to Paul Giblin of the Arizona Republic, the vote was 4-3 in favor of the Coyotes staying in Glendale.
Although there are still hurdles that need to be cleared, such as RSE coming up with the money needed to satisfy the lease, this is a huge win for Phoenix fans. According to USA Today, relocation to Seattle was a very real possibility, but it now seems unlikely that it will come to fruition.
USA Today is also reporting that RSE has a plan in place when it comes to managing the arena. RSE has forged a working relationship with Global Spectrum, a company that manages 113 venues across the world, including the Philadelphia Flyers' Wells Fargo Center.
Joining forces with a company like that is a major coup for RSE, the Coyotes and the NHL as a whole. Generating revenue has been a hot issue for Phoenix in recent years, and although there is no guarantee that things will be different moving forward, it seems as though RSE is committed to succeeding.
Follow @MikeChiari on Twitter
Like the new article format? Send us feedback!