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Another Sale Of The Coyotes Is Close

from Mike Sunnucks of the Phoenix Business Journal,

The National Hockey League is close to putting the finishing touches on a sale of the Phoenix Coyotes hockey franchise to a group led by former San Jose Sharks CEO Greg Jamison. That sale would keep the team playing in the Phoenix market.

The deal still has go through final approvals and due diligence as well as through the city of Glendale which owns Jobing.com Arena. But Jamison, the NHL and Glendale are close to a final deal, according to sources familiar with the hockey team.

The NHL is trying to keep the sale price at $170 million in part to help the value of other franchises. The league bought the Coyotes out of Chapter 11 bankruptcy in 2009 for $140 million.

More specific details of the pending sales to Jamison and his group are not available.

continued

added 11:34am, via Scott Burnside tweet,

We are told that suggestion that Coyotes sale is close to being done “very, very premature.” In short, status quo.

Filed in: NHL Teams, d, | KK Hockey | Permalink
 

Comments

Alan's avatar

How many times have we heard how a sale “is close”, again?

And how many more teams will be sacrificed to relocation so the NHL can hold on to Phoenix? With the number of teams in financial trouble in the league currently, the league needs to concentrate less on spiting Jim Balsillie and more on stabilizing the league’s member clubs.

Posted by Alan from Atlanta on 02/21/12 at 12:49 PM ET

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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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