Published November 28, 2012
GLENDALE, Ariz. – Greg Jamison took a big step toward completing his deal to buy the Phoenix Coyotes.
All that's left is one last hurdle.
Glendale's City Council approved a reworked arena lease deal with Jamison late Tuesday night, clearing the way for the former San Jose Sharks CEO to buy the team from the NHL.
The council voted 4-2 in favor of a 20-year, $320 million arena management deal with Jamison, with a stipulation that he must complete his purchase of the team by Jan. 31, 2013.
Jamison said after the council vote that he fully expects to have the deal done in time.
Glendale leaders approved a $324 million deal for Jobing.com Arena in June, but sought to renegotiate in the face of huge financial restraints.