Originally written on Fox Sports Arizona  |  Last updated 6/14/13
The City of Glendale and the Coyotes prospective buyer have done what many thought impossible. Multiple sources have confirmed that the two sides have bridged a 9 million annual gap on an arena lease agreement and the proposal will be presented at the Glendale City Council executive session on Tuesday. Details of the proposal were not forthcoming, but while the city has only approved 6 million in its budget to manage the arena, it is believed Renaissance Sports and Entertainment, the ownership group headed by George Gosbee and Anthony LeBlanc that already has a purchase agreement with the NHL, was able to find multiple Coyotes-related revenue streams for Glendale that will provide the city between 8 million and 11 million annually. RSE needs about 15 million annually to manage the arena. The additional revenue streams will, in some manner, account for the difference between the amount RSE is seeking and the amount Glendale has budgeted, although specifics of the proposal are not kno...
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