Nov 27, 2012 9:29 PM by Associated Press
GLENDALE (AP) - Glendale officials are expected to vote Tuesday on a proposed $320 million deal to keep the Phoenix Coyotes in the city's arena.
The City Council had approved a 20-year, $324 million deal for Jobing.com Arena in June, but city leaders sought to renegotiate it. The latest proposal would help Glendale because it would reduce payments in the early years of the 20-year deal and save the city $4 million.
City Council members had a heated debate last week about the proposed arena-management agreement with potential Coyotes buyer Greg Jamison and decided to take up the matter again during Tuesday night's meeting.
If the agreement is rejected, it might be up to new council members who take office in January to settle the fate of the arena and the Coyotes.
At issue is whether the city can afford the agreement. If approved, it would require Glendale to cut $17 million from the general fund. That means trimming dozens of positions within city government over the next five years.
Without the team, Glendale would still have to trim $10 million.
Glendale has twice pledged $25 million to the NHL to operate the arena and keep the team in Glendale.
The NHL has operated the Coyotes since former owner Jerry Moyes took the team into bankruptcy in 2009.
Jamison has said he's still prepared to buy the team and work with the league as quickly as possible to close a deal.
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