Glendale City Council accepts Coyotes arena deal

Prospective Coyotes owner Greg Jamison. (DARRYL WEBB/Reuters file photo)

Prospective Coyotes owner Greg Jamison. (DARRYL WEBB/Reuters file photo)

QMI Agency

, Last Updated: 10:27 PM ET

Greg Jamison overcame a major hurdle in his quest to own the Phoenix Coyotes.

Glendale City Council agreed to a new arena lease deal late Tuesday night that paves the way for the former San Jose Sharks CEO to purchase the beleaguered team and keep it in Arizona.

Council voted 4-2 in favour of a 20-year deal that will see the city pay $320-million in a lease agreement for Jobing.com Arena, the Coyotes' home rink. The deal is contingent with Jamison buying the Coyotes.

"I think when done right a professional team is a strong addition to the fabric of life of any community -- Glendale included," Jamison said on the NHL website.

The NHL has been trying to sell the Coyotes for three years after buying the club for $140-million in 2009 when the previous owner went into Chapter 11 bankruptcy.


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