Originally written on NESN.com  |  Last updated 11/16/14
GLENDALE, Ariz. — The Phoenix Coyotes took a big step toward stability Tuesday night when the Glendale City Council ratified an arena lease agreement with a prospective owner of the franchise. After making a few alterations, the council voted 4-3 in favor on a 15-year, $225 million lease agreement with Renaissance Sports & Entertainment during a special session. “Everybody who’s followed this saga has said decide something or just shoot us,” Coyotes general manager Don Maloney said. “Fortunately, we got the result we needed to stay in a great place and a great hockey town.” The vote clears the way for RSE to purchase the Coyotes from the NHL, which has been running the team the past four years. The decision had been in doubt as RSE and the city went through tense negotiations over the past few weeks. RSE may have swung the vote in its favor earlier in the day when it announced a partnership with Global Spectrum, which owns the Philadelphia Flyers, to help manage Jobing.com Arena. RSE must finalize its lease agreement with Glendale and its purchase of the team by Aug. 5. “We went into this hopeful and we’re very, very happy, very grateful not only to the councilmembers here, but all the residents and taxpayers here,” RSE partner Anthony LeBlanc said. “We are looking forward to a solid partnership and making this a (success) for all those concerned.” The meeting attracted hundreds of Coyotes fans and Glendale residents, who showed their pleasure or displeasure in the chambers by putting their thumbs up and down. An overflow crowd downstairs in the employee lounge also cheered and booed at a closed-circuit monitor. The meeting also was attended by Maloney and player Derek Morris, along with NHL commissioner Gary Bettman and deputy commissioner Bill Daly, who received a rare standing ovation as they entered the chambers. RSE reached a deal to buy the Coyotes from the NHL last month and spent several weeks negotiating with Glendale for an arena lease deal, the final hurdle in its attempt to purchase the franchise. After weeks of back and forth, RSE accepted numerous revisions to an initial draft of the lease agreement, including a $50,000 payment to the city if the Coyotes play less than 41 games, but stood firm on an out clause for the city. The city had asked for the clause to match a provision that allows RSE to relocate the team after five years or if it accrues $50 million in losses. Nick Wood, an attorney representing RSE, said the out clause was out of the question, but made a concession on the deal, offering to pay the city any losses in revenue above $6 million should the team be relocated. After a long debate, the council agreed to vote on an amended lease agreement without the clause. “It’s a sad day when you put sports, a leisure, in front of our future, which is the kids,” said councilmember Norma Alvarez, who voted against the deal. The city also was concerned about a $15 million fee to manage Jobing.com Arena. Glendale budgeted $6 million to operate the arena, but RSE projected between $8.5 and $11 million in revenue from arena naming rights, parking, rent, ticket surcharges and other streams to make up the difference. RSE added a provision in the deal that called for it to pay the difference if revenues don’t cover the $6 million the city has budgeted to run the arena. After a council meeting that lasted about four hours, the council voted in favor of the deal despite reservations from some councilmembers. Photo via Wikimedia Commons/Jobing.com Arena
GET THE YARDBARKER APP:
Ios_download En_app_rgb_wo_45
MORE FROM YARDBARKER

Floyd Mayweather, Manny Pacquiao close to deal for fight

TJ Lang: Suh wanted to fight me after stepping on Aaron Rodgers

Aaron Hernandez jurors allowed to watch Super Bowl

Tiger misses cut: ‘I’m only doing this so I won’t get fined’

Roger Goodell grilled on Deflategate during presser

LIKE WHAT YOU SEE?
GET THE DAILY NEWSLETTER:

Rex Ryan: Seahawks need to ‘take the air out of the football’

J.J. Watt buys cabin in the middle of nowhere to train

Six teams have done background work on Peterson

NBA set to earn $700M through streaming deal in China

Wade Phillips is the best coordinator hire this offseason

Bill Belichick gives understated scouting report of Tom Brady

WATCH: Jimmy Butler throws down half-court alley-oop

President Obama zings Patriots over Deflate-gate

Each major conference's Player Of The Year candidates

Super Bowl XLIX preview and predictions: Patriots-Seahawks

49 Stops to Super Bowl XLIX

Most unexpected MLB free agent signings of past 10 years

Five most villainous Super Bowls of all time

Super Bowl ad focuses on acceptance of gay athletes

Foster says UT boosters paid him $40-50K while in college

Ranking the repeat Super Bowl champions

Eric Decker to Sherman: Time your conception a little better

Could Katy Perry and Russell Wilson be dating?

NHL News
Delivered to your inbox
You'll also receive Yardbarker's daily Top 10, featuring the best sports stories from around the web. Customize your newsletter to get articles on your favorite sports and teams. And the best part? It's free!

By clicking "Sign Me Up", you have read and agreed to the Fox Sports Digital Privacy Policy and Terms of Use. You can opt out at any time. For more information, please see our Privacy Policy.
the YARDBARKER app
Get it now!
Ios_download En_app_rgb_wo_45

Obama zings Pats over Deflate-gate

Each major conference's POY candidates

Super Bowl XLIX preview and predictions: Patriots vs. Seahawks

The 13 things we want to see in Super Bowl XLIX

49 Stops to Super Bowl XLIX

Tiger Woods, misses cut: ‘I’m only doing this so I won’t get fined’

Ranking the repeat SB champions

Roger Goodell grilled on Deflategate

Katy Perry, Russell Wilson dating?

Rex Ryan has advice for Seahawks

Super Bowl: Things you can't control

LeBron and the Cavs are ready to make a run

Today's Best Stuff
For Bloggers

Join the Yardbarker Network for more promotion, traffic, and money.

Company Info
Help
What is Yardbarker?

Yardbarker is the largest network of sports blogs and pro athlete blogs on the web. This site is the hub of the Yardbarker Network, where our editors and algorithms curate the best sports content from our network and beyond.