The Phoenix City Council delayed its vote until January on the $230 million renovation of Talking Stick Resort Arena in downtown Phoenix. The arena has been home to the Phoenix Suns since it opened in 1992. The venue also hosts concerts and other events throughout the year.
The most significant details of the deal would have Phoenix paying $150 million for arena renovations and the Suns paying $80 million for renovations.
The Suns signed a 40-year lease in 1992, but the agreement includes a provision for the Suns to opt out in 2022 if the building is considered obsolete.
– Scott Hanson, HMA Public Relations
