Once again, the Phoenix Coyotes appear to be close to staying in Arizona. The City of Glendale and potential owner Greg Jamison are close to reaching a renegotiated lease deal, according to a report from The Arizona Republic.
Phoenix Coyotes sale: Greg Jamison, Glendale reportedly close on deal
In late August, the NHL gave Jamison more time to work out a lease agreement and finalize the purchase of the team. It appears Jamison has worked out any issues with the lease, as interim Glendale City Manager Horatio Skeete said he will present the “final agreed-upon restructuring terms” to officials on Tuesday. The City Council will still have to vote to approve the deal.
This is just the latest in what has been a long up-and-down process for Jamison. He agreed to a lease agreement in June, and it was approved by city leaders, but the city council directed Skeete to renegotiate the deal two months later. Jamison has also had financing issues as he tries to securing the funds needed to purchase the team from the NHL.
If the newly-agreed upon lease gets approved, it will go into effect as soon as Jamison finalizes the purchase of the team.
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