TSN: Glendale & NHL reach agreement for financial losses
More great news for hockey fans in Arizona, as TSN is reporting today that the NHL and the City of Glendale have come to an agreement on the one sticking point that would likely have meant the team departing for Canada.
According to TSN, the City of Glendale has reached an agreement with the NHL to cover any losses the team may have next season, up to $25 million. From the report:
Sources say Glendale city officials also talked with representatives from Ice Edge Holdings on Friday, however, according to source, Ice Edge remains reluctant to engage in further discussions with the city without exclusivity.
As talks broke down with Jerry Reinsdorf and then Ice Edge Holdings, the City held a vote in which the council agreed to cover possible losses for next year.