Glendale City Council is expected to vote Tuesday on a revamped lease agreement between potential Phoenix Coyotes owner Greg Jamison and the municipality.
The agreement would pay Jamison $320 million over 20 years and would be expected to keep the Coyotes in Arizona. If the new lease agreement is accepted, Jamison and his partners will attempt to complete the purchase of the team from the NHL by the end of this year.
Sources tell Scott Burnside of ESPN.com that financing for the $170 million deal is in place and the remaining challenges are the approval of the lease agreement and approval by the NHL's board of governors.
ESPN.com adds that the passing of the new agreement is not a guarantee because of the city's financial situation and the opposition to the deal by Glendale Mayor Elaine Scruggs.
If the lease agreement is not approved, it's expected that would end Jamison's bid to buy the Coyotes and the league may have little choice but to begin the process of finding a new home for the team.
Files from ESPN.com were used for this report.