Arena Nearing Deal

The city of Glendale, Ariz., appears poised to cut a 20-year deal with a new operator for the Arena, but the agreement could come at a cost to local residents.

Glendale is reportedly looking to pay a group led by former San Jose Sharks CEO Greg Jamison nearly $325 million to run the venue.

However, documents obtained by the Arizona Republic show the city expects to collect only half that amount via ticket fees, rent and sales taxes. City councilors are set to vote on the deal next week.

Glendale has been trying to find a new owner for the NHL’s Phoenix Coyotes that play at the venue for some time.