Glendale, Ariz., approves arena plan to keep Phoenix Coyotes

GLENDALE, Ariz., July 3 (UPI) --
A plan to keep the Phoenix Coyotes in their present home has been approved by the Glendale City Council.



The council voted 4-3 Tuesday night in favor of the complex deal in which an investment group called IceArizona would take over the Coyotes and keep them at Jobing.com Arena for at least five years.



The sale of the team to IceArizona must also be approved by the National Hockey League, which is expected to do so within a month, The Arizona Republic in Phoenix reported Wednesday.



The league had said publicly the Coyotes would not be able to remain in Glendale without the passage of Tuesday's measure. Some council members said the plan was still too risky; however, the majority was satisfied with the financial guarantees and plans for repayment.



IceArizona proposed to the city that it be paid $15 million per year to manage the city-owned arena. The city would make up the $15 million through arena revenues. The Republic said other management firms offered to do the job for far less, but could not guarantee the Coyotes would remain tenants of the building.



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