Coy­otes, Glendale reach agree­ment

The Guardian (Charlottetown) - - SPORTS - The As­so­ci­ated Press

GLENDALE, Ariz. – The Ari­zona Coy­otes and the city of Glendale agreed to amend an ex­ist­ing lease agree­ment on Thurs­day, though the deal may only be a tem­po­rary fix in the team’s on­go­ing saga to re­main in the desert. The amended deal, which will be voted on by the Glendale City Coun­cil to­day, calls for the orig­i­nal 15-year, $225 mil­lion agree­ment to be cut to two years, ex­pir­ing on June 30, 2017. It also would trim the man­age­ment fee the city pays an­nu­ally to the Coy­otes from $15 mil­lion to $6.5 mil­lion and shift all hockey-re­lated rev­enue to the team in­stead of Glendale, which would gen­er­ate about $6 mil­lion for the Coy­otes. A five-year out clause if the team lost more than $50 mil­lion that was part of the orig­i­nal agree­ment also has been re­moved.

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