The council voted to extend the deadline for the life of the Los Arcos Stadium District until March 5, which extends the time that Ellman, and partner Wayne Gretzky have to close the $87-million purchase to the same date.
The stadium district is critical to the life of the project because it provide Ellman access to more than $100 in public funds to build the stadium, which will be the cornerstone of a massive $575-million mixed-use project.
Ellman has said he expects to close on the team before Feb. 15, the deadline set by the National Hockey League.
The project is at the southeast corner of Scottsdale and McDowell roads and will feature more than 200,000 sf of retail and office space, movie theaters, a 19,000-seat ice hockey arena, restaurants and condominiums.
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