Sources: Coyotes' lease offers approved

[PDXChris]

http://sports.espn.go.com/nhl/news/story?id=5048927

Two lease proposals for the Phoenix Coyotes given to the Glendale City Council earlier this week were approved, sources told ESPN.com on Thursday.

A pair of potential ownership groups, Ice Edge Holdings and a rival bidding group that includes Chicago White Sox/Chicago Bulls owner Jerry Reinsdorf and local businessmen, presented the proposals.

Great news. With the NHL running the team, they have said losses will be about 10 million as apposed to the 30 million they lost year of the last few years. A deep run and they might break even. With the new lease, this team can e profitable with a real owner.

 

[MigratingOsprey]

If true this is awesome news - as with anything political you need to hold your breath a bit - however, it's a lot more optimistic than the recent doom and gloom clouds that people have been pushing recently

 

[ASUCHRIS]

Shocking but excellent news if true. The council seemed pretty adamant that they wouldn't accept any changes to the lease, and I know that was a major sticking point. Maybe the council has started to get pragmatic.

 

[MigratingOsprey]

it's either accept changes or accept a vacant building at this point in time

tough spot for the city - but losing an anchor tenant and assuming management of the building would hurt them and the tenants at westgate (which would hurt the city) and also impact the value of the land around the area for development (hurts the city)

 

[ASUCHRIS]

it's either accept changes or accept a vacant building at this point in time

tough spot for the city - but losing an anchor tenant and assuming management of the building would hurt them and the tenants at westgate (which would hurt the city) and also impact the value of the land around the area for development (hurts the city)

Oh, I totally agree, and am pleased that the council finally came to its senses. I'm only surprised because even recently I've heard that they weren't budging on anything.