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Glendale council takes first step toward completing Coyotes lease

GLENDALE, Ariz. – The Glendale City Council has approved a preliminary budget that includes $17 million to be paid to the prospective buyer of the NHL’s Phoenix Coyotes for operating costs for the city’s Jobing.com Arena.

The 4-3 vote on Tuesday night was the first in a series of moves necessary before the council approves a new lease for the arena.

The council has two more preliminary budget hearings before taking a final budget vote. No date has been set for the council to consider the new lease, but it is expected to do so in the next few weeks.

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The NHL has reached a tentative deal to sell the team to Greg Jamison, former CEO of the San Jose Sharks, contingent on a new lease agreement with Glendale.