The Phoenix Coyotes are a favorite among local residents, but their time in Glendale has been in question since the NHL arena management agreement is coming to a close. On August 27, the Glendale city council held a closed executive session meeting to determine the fate of their expiring arena management agreement with the NHL. Through the course of that meeting, they decided to extend the agreement for one more month, allowing more time for prospective Phoenix Coyotes buyer Greg Jamison to prepare for a potential team purchase.
This extended time for negotiations is, according to city spokesperson Julie Frisoni in a recent statement to The Glendale Star, very necessary for the ultimate success of the agreement. Frisoni also made it clear that there is no extra responsibility placed on the city to raise funds or pay the costs of this extension. While the ultimate decision is truly between Jamison and the NHL, the entire city is hoping that this extra time to get everything in order, extended from the original end-of-August deadline, will mean a successful purchase for Jamison.
The NHL has been the manager of the Jobing.com arena and the Coyotes for years, but the city had to approve the $25 million operating fee to keep them within our city up to this point. Now, in order for Jamison to become the new manager of the arena, the city will pay approximately #324 million over 20 years. City council already approved this step in May of this year, so it’s now up to the negotiations and final details between the NHL and Greg Jamison.
The new deadline is set for the end of September, so the hope for good news is spreading throughout the community. With so many dedicated community residents, the Coyotes will continue to have a great home in Glendale. If you’re looking for your own Glendale home, feel free to reach out to me. I’m happy to share neighborhood insights and guide you throughout your home buying process.
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