PHOENIX (AP) -The head of Ice Edge Holdings says the company has signed a memorandum of understanding on a new lease with the city of Glendale that could pave the way for a purchase of the Phoenix Coyotes.
The city council is to vote on the proposal next Tuesday. Chief executive officer Anthony LeBlanc calls it a first step and says there is much work still to be done to secure a final lease agreement.
There was no immediate word whether a second group interested in the team, headed by Chicago sports mogul Jerry Reinsdorf, has reached a similar agreement.
The NHL bought the Coyotes out of bankruptcy last year and is trying to find a buyer that would keep the team in Glendale.