When we last left the saga of the Phoenix Coyotes last month, on-again off-again suitors Ice Edge Holdings had just delivered proof that they had the cash to purchase the team. So, what are the latest developments?
The group of Canadian and American investors was required to show Glendale proof of its financing last month in order to negotiate exclusively with the city and work on a detailed lease for the Coyotes to play at city-owned Jobing.com Arena.
At the deadline, Glendale said Ice Edge had submitted “some of the required financial information.” City officials declined public records requests for more detail.
But on Monday, city spokeswoman Julie Frisoni revealed that Ice Edge has failed to submit some of the required documents, five weeks past the deadline.
Dear lord, this may never end.
For now, at least, Jerry Reinsdorf hasn’t re-entered the bidding, but given the number of times he and Ice Edge have each jumped into and out of the Coyotes sale process over the last year and change, you should never rule anything out. Meanwhile, Winnipeg hockey fans are trying to decide how excited to get about the prospect that no viable Arizona buyer will be found, and the NHL will relocate the team back to its original hometown, as it threatened earlier this year.
Given the levels of public subsidies that would be required to keep the team in Glendale, that might ultimately be best for all concerned — except for the remaining Coyotes fans, obviously, especially those who don’t pay Glendale taxes.