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Do You Really Want The Latest On The Coyotes?

from Ken Campbell of The Hockey News, 

This much we know: that Horatio Skeete, the acting city manager for the City of Glendale, told councillors there in an in-camera meeting earlier this month the deal was to have been completed by Thursday and it was not.

That news is coming amid claims by one industry source the deal is, in fact, dead and Jamison has not been able to raise the money to purchase the team from the NHL. It was reported in early August Jamison, the former CEO of the San Jose Sharks, had come up with the final $20 million he needed to fund the $170 million purchase of the team from the NHL. (According to our source, Jamison had to come up with $70 million toward the purchase price.)

Nothing has been heard since then and if Jamison were to have all his financial affairs in order to purchase the team, wouldn’t things have moved forward in the almost two months since then? The only thing that has really happened since then is captain Shane Doan signing a four-year, $21.2-million contract, but that was more necessitated by the impending lockout than it was a reflection of the status of the Coyotes. To this point, neither a deal has been reached between Jamison and the City of Glendale to restructure the team’s lease with the Jobing.com Arena nor has Jamison purchased the team from the NHL, which has been operating it since 2009.

One member of the NHL’s board of governors reached by THN.com said he hasn’t heard anything one way or another on the status of the Coyotes purchase, but said he doubts the deal with Glendale will ever get done.

more plus some CBA talk...

Filed in: NHL Teams, Phoenix Coyotes, | KK Hockey | Permalink
 

Comments

Paul's avatar

This from Mik Sunnucks of the Phoenix Business Journal,

Skeete wants Jamison and his partners to agree to lower the first year city payments in the Coyotes deal from $92 million to $72 million.

Jamison has not yet agreed to any changes, and the city won’t ink the existing deal.

Posted by Paul from Motown Area on 09/28/12 at 03:40 PM ET

Vladimir16's avatar

Please, please, PLEASE put this miserable franchise out to pasture. UGGGHHHH!!!!

Posted by Vladimir16 from Grand River Valley on 09/28/12 at 03:42 PM ET

Avatar

Something that can’t go on forever, won’t.

It can still feel like it is, however.

Posted by HockeyinHD on 09/28/12 at 04:06 PM ET

Down River Dan's avatar

That news is coming amid claims by one industry source the deal is, in fact, dead

Nothing is over until Gary decides it’s over.  shut eye

Posted by Down River Dan on 09/28/12 at 04:19 PM ET

Avatar

Next Stop, Seatlle

Posted by FlyersFan on 09/28/12 at 05:05 PM ET

Kate from Pa.-made in Detroit's avatar

but said he doubts the deal with Glendale will ever get done.

The one thing that has been consistent.

Thanks Gary. A$$.

Let’s Go Red Wings!!!!!In’13?

Posted by Kate from Pa.-made in Detroit on 09/28/12 at 07:13 PM ET

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About Kukla's Korner Hockey

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.

From breaking news to in-depth stories around the league, KK Hockey is updated with fresh stories all day long and will bring you the latest news as quickly as possible.

Email Paul anytime at pk@kuklaskorner.com

 

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