Could it be? Could it actually be? The Phoenix Coyotes might actually be … sold?
A source confirmed to ESPN.com Tuesday evening that suitor Greg Jamison, the former president and CEO of the San Jose Sharks, has finally arranged financing that would allow him to purchase the team from the National Hockey League for $170 million, and that any issues with the lease agreement between the City of Glendale and Jamison’s investors for Jobing.com Arena, where the Coyotes play, are expected to be resolved by the end of September.
It’s hard to believe it, but after years of bankruptcy court and failed sales and other shenanigans, it looks like the Coyotes (and the city of Glendale) might finally be able to put behind them all the toying with Jerry Reinsdorf and Ice Edge and—
But the Phoenix Business Journal has learned from multiple sources that partners from Ice Edge Holdings LLC could be part of the Jamison investment group.
Oh. Well, anyway, it sounds as if whoever the investors are, at least Jamison and the city of Glendale have resolved their differences over the $200 million lease subsidy agreed to back in June—wait, what’s that?
Prospective Phoenix Coyotes’ buyer Greg Jamison isn’t too keen on changing a 20-year, $300 million arena already approved but not finalized by the city of Glendale.
And any material changes to that arena deal by Glendale will require a new City Council vote, according to officials familiar with issue. That means if the city tries to rework the payment timetable, amounts and structure, it will likely require a fresh vote from the Glendale council.
You know what? I’m going back to sleep. Wake me when somebody’s actually signing contracts.