DALLAS — With only one bid for the Phoenix Coyotes on the table, the Glendale, Ariz., City Council has 60 days to negotiate a lease with an investor group promising to keep the National Hockey League team in the city’s Jobing.com arena.
Bought out of bankruptcy by the NHL, the Coyotes would be sold to Ice Edge Holdings, a group of American and Canadian investors who have agreed to keep the team in Glendale. The City Council on Tuesday voted unanimously to accept an exclusive memorandum of understanding to negotiate an arena lease with Ice Edge. The lease is a condition for selling the team to Ice Edge. If a deal cannot be reached, the NHL has the right to sell the team to another buyer who could then move the franchise.