Where there's smoke, there's fire, and we now have a second report confirming news that the NHL and the City of Glendale, Ariz., are close to a deal on a Phoenix Coyotes sale to an ownership group led by former San Jose Sharks CEO Greg Jamison.
Phoenix Coyotes Sale To Greg Jamison Nearly Complete, According To Report
Via Phoenix Business Journal, reporting essentially the same details that were reported by Dave Zorn of Metro Networks Arizona late last week, the NHL is looking to sell the team to Jamison for somewhere in the ballpark of $170 million, “in part to help the value of other franchises.” The NHL purchased the team out of bankruptcy three years ago for $140 million.
A sale to Jamison's group, which reportedly includes former Coyotes star Jeremy Roenick, would keep the team in Glendale for the foreseeable future, essentially ending Coyotes relocation talks. Those talks have been loud lately thanks to the proposed arena in Seattle, which would require NHL relocation or expansion before becoming a reality.
As it stands without a sale, the City of Glendale could be on the hook for a third $25 million payment to the NHL to both cover the Coyotes’ operating losses and operate the City-owned Jobing.com Arena. Or, the NHL could sell the team to one of the many interested buyers that would love to relocate them to another market.
For more on the sale situation in Phoenix, check in with SB Nation Arizona and Coyotes blog Five For Howling.
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