GLENDALE, Ariz. (CelebrityAccess) – The Glendale City Council has voted unanimously to approve a new lease agreement with the Arizona Coyotes that will keep the NHL team at the Gila River Arena for at least two more years.
According to the Associated Press, the seven-member council voted on Friday to approve an agreement that replaced the existing 15-year, $225 million arena management lease with one that cuts the annual management arena management fee to The Coyotes from $15 million to $6.5 million. The new deal will also see all hockey-related proceeds go to the team.
In overturning the previous deal, the council cited a conflict of interest law after Craig Tindall, a former Glendale city attorney, was hired by IceArizona, which owned the team at the time, just seven weeks after the agreement was signed. IceArizona sold the team to Philadelphia-based entrepreneur Andrew Barroway in late 2014.
Coyotes co-owner Anthony LeBlanc told the Associated Press that the team would work toward toward securing a long-term deal to remain in Glendale. – Staff Writers