The Phoenix Coyotes saw a significant step reach completion on Tuesday night, when the City of Glendale voted to approve the lease agreement with Renaissance Sports & Entertainment to keep the Coyotes in the desert for potentially the next 15 years. Assuming all goes according to plan, it will finally mean success for the embattled organization.
The Coyotes have seen prospective owners come and go over the last few years, with RSE proving to be the group that had the jobs to get a deal done. Their partnership with Global Spectrum was something that certainly helped, as it could mean even more business for Jobing.com Arena, outside of the Coyotes.
It’s not yet official, as the agreement and purchase still need to be finalized, but if everything goes through, the Coyotes will finally have stable ownership, something that they have not had for the last several years. Despite a constantly uncertain situation, Don Maloney has built a strong team in the desert.
Imagine what he can do with a team that has a stable owner. That’s one exciting aspect of this. The ownership mess that hung over this organization for the last several years likely prevented multiple free agents from wanting to play for this team, for fear of moving. It was one of the reasons that Ilya Bryzgalov wanted out when he was traded, though that’s worked out well for the club.
They’ll have not only a secure situation in terms of their location, but also in terms of their finances. Perhaps that will lead to some star power that this team currently lacks. With a solid core in place, and a terrific coach, the Coyotes are an attractive destination. Now they have the situation, including the funds, to back it up.
With the organization now looking like they’re staying, they can work to keep their current fanbase, and help it grow. While an arena in Glendale isn’t the easiest of things to fill, there are benefits that come with stable ownership, and an increased fanbase is one of them, if executed correctly.
It’ll be interesting to see how this organization grows with new ownership, assuming everything is finalized as expected. This is a big win for the league and for the Coyotes organization. Now we get to see if they can move forward, or if we’ll run into this mess again within the next couple of years.