On Friday, May 24 the National Hockey League approved the sale of the Phoenix Coyotes to Renaissance Sports & Entertainment. On Tuesday May 28 representatives of the NHL, RSE and the City of Glendale met to hammer out an arena management agreement. Glendale Mayor Jerry Weiers released an update on Tuesday afternoon:
“City officials met today (May 28) with NHL Commissioner Gary Bettman and Deputy Commissioner Bill Daly, as well as with representatives from Renaissance Sports & Entertainment (the group attempting to buy the Phoenix Coyotes). The City Council will not be making a decision regarding the Coyotes until all pertinent information has been collected and reviewed and all the available options have been thoroughly studied. This includes several bids the city is expected to receive this Friday (May 31) from qualified venue managers interested in operating the city-owned Jobing.com Arena. Glendale is committed to moving forward on a plan that is in the best interests of our city and our citizens.”
Glendale owns the Coyotes home ice, Jobing.com arena, and BSE will need to reach an arena management agreement with the city to move forward with purchasing the team. Glendale will pay BSE part of the operations costs of Jobing.com Arena during Coyotes games and both sides are meeting to hammer out an amicable agreement.
Glendale has set a deadline of May 31 for any and all Coyotes’ suitors to submit arena management proposals for Jobing.com Arena.
The NHL has owned the Coyotes since 2009, when they bought the team in bankruptcy from their previous owner Jerry Moyes. Since the purchase they have been attempting to sell the team and keep it in its current home of Glendale, AZ.
On May 13 the NHL rejected a bid from Darin Pastor to buy the franchise. On February 1st, 2013 Greg Jamison missed the deadline to finalize his group’s purchase of the Coyotes. His arena management agreement had Glendale paying out approximately $300 million over 20-years to maintain Jobing.com Arena for Coyotes games.
NHL Deputy Commissioner Bill Daly offered his take on Tuesday’s meeting in a prepared statement. Daly showed optimism that the sale of Coyotes can be completed and that the team will stay in Glendale, AZ. He also stated that the NHL will have no further comments until the completion of the negotiation sessions between the NHL, Glendale and BSE.
“We had a number of constructive meetings today with the Mayor, various members of the City Council and the acting City Manager,” Daly said. “Everyone involved in today’s discussions shares the desire and ultimate objective of transitioning the ownership of the Coyotes and safeguarding the franchise’s long-term future in Glendale. We expect that representatives from the Renaissance group will begin meeting with the City to see if a mutually agreeable lease arrangement can be forged expeditiously. We will have no further comment pending completion of that process.”