NHL, Reinsdorf to negotiate terms
GLENDALE, Ariz. -- The Glendale City Council on Tuesday approved a proposed arena lease agreement submitted by a group headed by Chicago sports mogul Jerry Reinsdorf that is seeking to buy the Phoenix Coyotes.
The council also acted on a second proposal, rejecting a plan submitted by Ice Edge Holdings, a group of Canadian and U.S. investors.
Reinsdorf's group, known as Glendale Hockey, must now reach an agreement with the NHL, which purchased the team in bankruptcy court last year.
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