The National Hockey League and the city of Glendale have reached an agreement that will ensure the city covers any operating costs up to $25 million for the 2010-2011 season.
There is a clause in the agreement that allows the NHL to seek outside interest after December 31. The league isn't forced to look outside after that date but it gives the NHL the flexibility to do so.
Sources say Glendale city officials also talked with representatives from Ice Edge Holdings on Friday, however, according to source, Ice Edge remains reluctant to engage in further discussions with the city without exclusivity.
The group in Winnipeg with interest in the Coyotes remains hopeful relocation will again be considered and believes progress was made in the quest to return an NHL franchise to this city.