Ice Edge Holdings was reported to be buying the Phoenix Coyotes back in December. Then, there were rumblings that the group could not get enough funding to secure the $160 million asking price from the NHL. Friday, Ice Edge Holding has released a letter to Phoenix Coyotes fans. An excerpt from Five For Howling:
Ice Edge Holdings Writes A Letter To Coyote Fans
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↵We are happy to report that regardless of reports to the contrary, there have been no material changes in the process to date. As we stated from the outset, we fully expected the transaction to take upwards of six months, similar to other recent transactions for other NHL franchises. Ice Edge Holdings continues to work very closely with the City of Glendale and the NHL towards finalizing a lease that will be appropriate for all parties.
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The execution of a revised lease is the key outstanding issue, and once completed will allow the transaction to move towards closing. We are neither behind nor ahead of our expected timelines.
↵For the sake of Coyotes fans, I hope this deal goes through. For the rest of the letter, please visit Five For Howling.
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