Well, that’s one hurdle cleared: Ice Edge Holdings, the prospective buyers of the league-controlled Phoenix Coyotes, met Friday’s deadline to provide proof that they actually have the cash to pull off the purchase. Which may not sound like a huge accomplishment, but given that the company’s own CEO said earlier this month he wasn’t sure they’d pull it off, it’s at least a step forward.
(And, of course, given some of the previous characters who’ve been approved to buy NHL teams, “not being flat broke” might not actually be that high a bar to set.)
Now all Ice Edge needs is to negotiate a final lease agreement with the city of Glendale, and a purchase agreement with the NHL, and they can happily become the owners of their own bankrupt hockey franchise. Hint to Glendale city negotiators: Try not to give up your right to sue the team if they violate their lease.