GLENDALE, Ariz. (AP) - The Glendale City Council has approved a new lease for the Phoenix Coyotes, clearing the way for sale of the team by the NHL to Chicago businessman Matt Hulsizer.
The council voted 5-2 late Tuesday night in favor of the lease, which will cost the city $197 million over a six-year period. Hulsizer is expected to pay about $170 million for the team.
NHL commissioner Gary Bettman attended the meeting and assured the council that the league's board of governors would approve Hulsizer as an owner.
However, the conservative Goldwater Institute warned the council that terms of the lease may violate Arizona's anti-subsidy law.