|Coyotes closer to learning ownership fate|
|Written by Admin|
|Thursday, 27 June 2013 11:47|
The NHL, which has operated the Coyotes for four years, has agreed to sell the franchise to Renaissance Sports & Entertainment, but the deal is contingent upon completing a lease agreement with the city for Jobing.com Arena.
In a release posted on its website on Thursday, the city raised numerous concerns about the proposed 15-year, $225 million lease deal with RSE, including a $15 million management fee to run the arena, a five-year out clause that would allow RSE to move the team without penalty and a tight timeframe to ratify the deal.
A vote on the deal is expected Tuesday.