It took four long years, but the Phoenix Coyotes have finally found a buyer, IceArizona. On Monday, the company bought the franchise from the National Hockey League, and got approval from the Board of Governors. In a release from the Associated Press,
Completion of the sale triggers a $225 million lease agreement for Jobing.com Arena reached last month by the city of Glendale and Renaissance Sports and Entertainment, managing partner of IceArizona.
George Gosbee, who will become the team’s new chairman/governor, said this about the sale,
It was a complicated transaction, probably one of the most complicated transactions I’ve worked on in 21 years in the financial business, but a lot of hard of work and support kept us going through the process. Now we can start focusing on what matters and that’s building a winning organization here in the Valley.
Fortunately for the Coyotes, before the deal went through, the organization was able to bring in a few major components such as GM Don Maloney, AGM Brad Treliving, as well as coach Dave Tippett. Some of their other key moves this offseason included signing both Mike Smith and Mike Ribeiro.
One final thing to add about this new agreement: at some point after the conclusion of the upcoming season, the team will be transitioning from the Phoenix Coyotes to the Arizona Coyotes.