Renaissance is said to be seeking up to $15 million per year in revenue guarantees from the city. The city has budgeted for only $6 million, and the sides are seeking ways to bridge the gap.
If they can’t do it, the NHL has warned it could sell the team to New York hedge fund investors Ray Bartoszek and Anthony Lanza, who would move the Coyotes to Seattle. But the feasibility of such a move remains in question, given the Coyotes would have to play in a temporary facility — 11,000-seat KeyArena being the most likely choice — and hope a new arena could be built.