Kukla's Korner Hockey
by Paul on 05/07/12 at 10:31 PM ET
Watch both videos below, the first one is Gary Bettman.
Bettman basically said they have reaced a tentative agreement with Greg Jamison to purchase the Coyotes but still need Glendale City Council approval and hopes to have a deal in place.
added 9:40pm, from David Shoalts of the Globe and Mail,
There may be a tentative agreement between the NHL and Greg Jamison to buy the Phoenix Coyotes but many unanswered questions remain along with some formidable hurdles.
The biggest questions are about money: Does Jamison, the former president of the San Jose Sharks, have the financing among his partners to not only pay the purchase price but cover the millions of dollars in losses the suburban city of Glendale cannot? How will Glendale come up with as much as $20-million (all currency U.S.) to pay Jamison in each of the next four or five years as an arena management fee and an average of $16-million over the 30-year lease?
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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.
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.
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