Phoenix Coyotes Gets New Lease to Stay in Glendale

National Hockey League’s (NHL) Phoenix Coyotes are set to stay in Glendale, Arizona as the city council passed a new arena lease.

The Glendale City Council voted 4-3 to approve a 15-year, $225 million lease deal for Jobing.com Arena to Renaissance Sports & Entertainment a.k.a. IceArizona, the NHL-backed group that will take over the Coyotes and keep them in Glendale.

Glendale Mayor Jerry Weiers summed up the city’s exhausted approach to the latest Phoenix Coyotes ownership group, bidding to keep the team in Glendale: “I don’t know if we’re fixing a problem or delaying a problem.” 

The deal was approved without the controversial “out clause” the city asked for, allowing it to end the lease after five years. That was removed in the approved deal, although IceArizona continues to have one of their own in the lease, in which they can leave in the fifth year if the team loses $50 million.

NHL Commissioner Gary Bettman spoke before the council on Tuesday. “Through the fits, the starts, the ups and downs, we’ve had incredible support from the fans in the Valley,” he said. “In the face of all the uncertainty, the fans and the business community were supportive.”

The whole procedure, which started in May 2009, has taken over four years to get to this stage.

us ends an ordeal that began in May 2009 for the NHL.