City may guarantee $25M to NHL to keep Phoenix Coyotes in Arizona for 2010-2011 season

NHL may get $25M from city to keep Coyotes in AZ

GLENDALE, Ariz. — The Glendale city council is considering guaranteeing the NHL up to $25 million to keep the Phoenix Coyotes in Jobing.com Arena for the 2010-2011 season.

But city manager Ed Beasley and NHL deputy commissioner Bill Daly told the council that the sale of the Coyotes is expected to close by the end of June and that the payments may never be needed.

Beasley also told the council on Tuesday that both Ice Edge Holdings and a group headed by Chicago sports mogul Jerry Reinsdorf are still talking about buying the Phoenix Coyotes. Reports have had Reinsdorf’s group dropping out in recent days.

The NHL purchased the team out of bankruptcy in September with the stated intention of selling it to a buyer who would keep the franchise in Arizona.