Kukla's Korner Hockey
by Paul on 05/30/13 at 03:26 PM ET
from Mike Ozanian of Forbes,
The Coyotes are on the verge of being sold to Renaissance Sports & Entertainment, a group headed by George Gosbee, Anthony LeBlanc and Daryl Jones, pending a new lease at Jobing.com arena that will require the city of Glendale to pay them a substantial fee to run the arena.
A source close to the negotiations, who traded candor for anonymity, revealed the purchase price as $170 million. The capital structurewould consist of RS&E putting in $45 million of equity, Fortress Investment Group lending $120 million (to be repaid by the fee Glendale taxpayers are going to pay the team to run the arena), and an $85 million loan from the NHL.
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Paul Kukla founded Kukla’s Korner in 2005 and the site has since become the must-read site on the ‘net for all the latest happenings around the NHL.
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