Kukla's Korner Hockey
by George Malik on 05/07/12 at 03:54 AM ET
TSN’s reporting that the NHL may no longer own and operate the Phoenix Coyotes as soon as later today:
The National Hockey League may finally have a deal to keep the Coyotes in Arizona.
According to an online report, NHL commissioner Gary Bettman is expected in Glendale on Monday to announce a tentative agreement between the league and San Jose Sharks executive Greg Jamison to purchase the Phoenix Coyotes. The agreement is expected to take the team off the market.
The report states Bettman’s press conference is expected before the puck drops on Game 5 of the Coyotes series with the Nashville Predators.
The report comes from the Phoenix Business Journal’s Mike Sunnucks, who’s been following the Coyotes’ ownership situation for its entire duration, and here’s what he has to say:
National Hockey League commissioner Gary Bettman is slated to be in Glendale Monday to announce the NHL has reached tentative terms to sell the Phoenix Coyotes to an ownership group led by Greg Jamison. The move is a major step in Jamison’s bid to buy the Coyotes and keep them in Arizona.
Bettman is slated to hold a press conference before the Phoenix Coyotes-Nashville Predators playoff game. He is expected to announce the Coyotes are no longer on the market and the league is finalizing a sale with Jamison.
The NHL has owned the team since 2009. Jamison is the former CEO of the San Jose Sharks and is a minority owner of that franchise.
The NHL announcement signals the league is comfortable with investment money and any financing involved with Jamsion’s bid.
It also sets the stage for a city of Glendale vote on payments to the Jamison group to facilitate the sale and help the group absorb some short-term financial losses. The Coyotes lose $20 million to $25 million per season. The city will pay new Coyotes owners to run Jobing.com Arena.
Jamison purchase of the Coyotes still needs to get final approval by NHL owners as well as the Glendale City Council. The Glendale City Council could vote on a Coyotes deal this week.
Update: Yahoo Sports’ Greg “Puck Daddy” Wyshynski duly notes that the Goldwater Institute will probably take issue with the deal, and he notes that Phoenix’s Fox 10’s Joe Lacava is also confirming the news regarding Bettman holding a presser.
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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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