Complex sentence: TNSE submitted series of bids for the Phoenix Coyotes, which were taken seriously enough that the league drew up tentative schedule with Winnipeg in place of Phoenix, and only shelved the bid after the securing a large subsidy from the Coyotes' municipal government.
Split into simpler sentences: TNSE submitted series of bids for the Phoenix Coyotes, which were taken seriously enough that the league drew up tentative schedule with Winnipeg in place of Phoenix. The NHL only shelved the bid after the securing a large subsidy from the Coyotes' municipal government.