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Prospective owners of Phoenix Coyotes execute league agreement for Jobing.com Arena

Jobing.com Arena, where the Phoenix Coyotes NHL hockey team plays home games, as shown in Glendale, Ariz., on June 13, 2012. A group trying to buy the Phoenix Coyotes has partnered with the firm that owns the Philadelphia Flyers to promote and operate Jobing.com Arena. Renaissance Sports & Entertainment, which has an agreement to buy the Coyotes from the NHL, announced Tuesday that it will work with Global Spectrum to help manage the Glendale arena. THE CANADIAN PRESS/AP - Ross D. Franklin

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Jobing.com Arena, where the Phoenix Coyotes NHL hockey team plays home games, as shown in Glendale, Ariz., on June 13, 2012. A group trying to buy the Phoenix Coyotes has partnered with the firm that owns the Philadelphia Flyers to promote and operate Jobing.com Arena. Renaissance Sports & Entertainment, which has an agreement to buy the Coyotes from the NHL, announced Tuesday that it will work with Global Spectrum to help manage the Glendale arena. THE CANADIAN PRESS/AP - Ross D. Franklin

GLENDALE, Ariz. - The prospective owners of the Phoenix Coyotes have signed their lease agreement for Jobing.com Arena.

Daryl Jones, partner with Renaissance Sports&Entertainment, tweeted on Monday that the lease agreement with the City of Glendale has been executed.

The Glendale City Council approved a 15-year, $225 million arena lease deal with RSE during a special session last week.

RSE still has to complete its purchase of the team and get approval from the NHL's Board of Governors, but those are expected to be formalities.

The Coyotes have been run by the league the past four years after former owner Jerry Moyes took the team into bankruptcy in 2009.

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