The City of Glendale voted 5-2 to nix their lease agreement with the Arizona Coyotes of the National Hockey League on Wednesday night. The city and team are two years into a 15-year lease agreement that includes a $15 million arena management fee from the city and various revenue streams from the team back to the city.
“We are disappointed with the city’s decision to violate its obligations under the agreement that was entered into and duly approved only two years ago,” Coyotes Co-Owner, President and CEO Anthony LeBlanc said in a statement. “We will exhaust any and all legal remedies against the city of Glendale for this blatant violation of its contractual obligations to us.”
The Coyotes are expected to file a lawsuit on Thursday morning to counteract the move as well as seeking damages.