AEG Signed For Glendale Arena
The formal notice of intent was issued Feb. 3 and the decision was applauded in the local Glendale Star recently, which said the decision could mark a turning point after “years of disappointment, frustration and negative return on taxpayer investment.”
The current management contract with Spectra will end in June 2017. The Coyotes filed for bankruptcy in 2009 and the team was sold to Renaissance Sports and Entertainment in 2013, although the sale was conditional on the city and the team successfully negotiating a lease agreement, which almost led to the team being moved when the process was delayed.
The city of Glendale and the Coyotes signed a 15-year lease agreement in the summer of 2013, but that agreement was terminated via special vote and a special two year agreement was reached in 2015. Team president and CEO Anthony LeBlanc made statements in December that chances were “strong” the team would be leaving Glendale in the future, but would likely remain in Arizona.