Investors continue last-ditch efforts for Coyotes
A group of investors interested in buying the Phoenix Coyotes from the National Hockey League continue last-ditch efforts at hammering out a lease agreement with the City of Glendale aimed at keeping the team in Arizona.
A group of investors interested in buying the Phoenix Coyotes from the NHL continue last-ditch efforts at hammering out a lease agreement with the City of Glendale aimed at keeping the team in Arizona.
Sources said some progress was made during a closed meeting Tuesday in Glendale, and it's possible that tweaks made to the lease deal on the table could lead to another executive session Friday.
If the city council doesn't pass a new lease agreement, one that would include a significant management-fee structure paid to the ownership group spanning the life of the lease, the deal will collapse and the team's time in the desert will end.
Speculation has been that if the council does not pass the lease agreement at its next public meeting on Tuesday, the deal will collapse. However, multiple sources have told ESPN.com that there is more wiggle room and that a vote a week later still would be acceptable to the league.
According to multiple reports, a group of investors is waiting in the wings to buy the team from the league and move it to Seattle for next season if the deal in Glendale collapses.
- Retired CPD sergeant critical after SE Side shooting
- Blue Line stop reopens after water main break
- Car crashes into building in Belmont Cragin
- Illini grad Mike Hopkins lands after 6 months in space
- $7 million shoplifting suspect due in court, parents jailed
- 5 hurt in crash on Aurora bridge
- Netflix subscribers targeted in phishing scam 2 min ago
- Photos: Highest-paid musicians, according to...
- Photos: 'The Bachelor' Season 18 finale in pictures
- abcnews: Happy Couples Share 6 Common Habits
Most Viewed StoriesMost Viewed Photos