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Lease clears way for sale of Coyotes

Updated: December 15, 2010, 6:50 AM ET
Associated Press

GLENDALE, Ariz. -- The Glendale City Council has approved a new lease for the Phoenix Coyotes, clearing the way for sale of the team by the NHL to Chicago businessman Matt Hulsizer.

The council voted 5-2 late Tuesday night in favor of the lease, which will cost the city $197 million over a six-year period. Hulsizer is expected to pay about $170 million for the team.

NHL commissioner Gary Bettman attended the meeting and assured the council that the league's board of governors would ...

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