The Phoenix Coyotes may yet stay in the desert. The Glendale City Council met on Tuesday to discuss potential bids for the team and will proceed with its preferred bid, from an ownership group led by former San Jose Sharks CEO Greg Jamison on Tuesday. The parties are nearing a deal that would sell the Coyotes and keep them in Glendale, according to the Phoenix Business Journal.
Phoenix Coyotes Sale: Glendale Moving Forward With Greg Jamison Bid, According To Report
Glendale owns Phoenix’s home arena, Jobing.com Arena, and has been heavily involved with the Coyotes since the NHL bought the team out of Chapter 11 bankruptcy in 2009. The NHL is seeking $170 million for the Coyotes, though a lower price could be negotiated.
Jamison’s group has been close to finalizing a deal to purchase the Coyotes before, only to lose some investment money prior to the purchase. Local groups helped throw a monkey wrench in the sale of the Coyotes to a Chicago investment executive.
This time, though, the NHL is poised to seal a deal with Jamison as soon as an arena lease is worked. Perhaps this could occur as soon as during the NHL playoffs, which begin for the Coyotes on Thursday night when they host the Chicago Blackhawks.
For more on the Coyotes, visit Five For Howling.
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