After a special meeting Wednesday, the City of Glendale, Ariz., voted 5-2 to cancel the arena management contract with the Arizona Coyotes.
Glendale alleges the team breached its 15-year, $225 million arena lease by using the $15 million a year it receives from the city to pay down debt incurred when the group purchased the team.
“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 issued Wednesday night. “We will exhaust any and all legal remedies against the city of Glendale for this blatant violation of its contractual obligations to us.