Originally written on NESN.com  |  Last updated 11/20/14
GLENDALE, Ariz. — The prospective owner of the Phoenix Coyotes is unlikely to complete a deal to buy the team from the NHL before a lease agreement with the City of Glendale expires, a league official told The Associated Press on Thursday. Barring a last-minute change, former San Jose Sharks CEO Greg Jamison won’t have the money or investors in place to meet the midnight Thursday deadline for the lease agreement, the official said on condition of anonymity because he wasn’t authorized to discuss the situation. Jamison reached a 20-year, $324 million lease deal with Glendale last year that was reworked in November with a Jan. 31 deadline. New mayor Jerry Weiers recently told the Arizona Republic that he would not extend the deadline on the lease agreement, so Jamison would likely have to negotiate a new deal if he is able to complete his purchase of the team. Missing the deadline also could open up the possibility of Glendale working on a deal with any potential new ownership groups. Either way, the Coyotes’ drawn-out ownership saga will drag on some more. The Coyotes have been run by the NHL the past three seasons, since former owner Jerry Moyes took the team into bankruptcy in 2009. The team still managed to be successful on the ice despite financial limitations, reaching the playoffs all three years, including the franchise’s first trip to the Western Conference finals in 2011-12. The Coyotes have had several potential suitors in that time, and a deal with Chicago businessman Matthew Hulsizer appeared to be in place last year before the conservative watchdog group Goldwater Institute killed it by warning potential bond buyers to stay away from the Glendale offering because of a looming lawsuit. Goldwater tried to stop the deal with Jamison, but the City Council voted in favor of the lease agreement during the summer and Glendale voters in November’s election upheld a 0.7 percent sales tax increase designed to help the city’s finances. A reworked deal with the city in November appeared to clear the way for Jamison to buy the team, but the NHL lockout may have hurt his ability to gain the finances he needed to beat the deadline. Thumbnail photo via Facebook/thephoenixcoyotes
GET THE YARDBARKER APP:
Ios_download En_app_rgb_wo_45
MORE FROM YARDBARKER

Scott Boras taking shots at Cubs' history over Kris Bryant

Kingdome debt finally paid off 15 years after demolition

49ers waive Jonathan Martin

Former MLBer Curt Ford assaulted, told to ‘go back to Ferguson’

Russell Westbrook was very ‘confused’ by media after loss

LIKE WHAT YOU SEE?
GET THE DAILY NEWSLETTER:

NCAA 'concerned' over Indiana's 'religious freedom' bill

Report: James frustrated with Love’s inability to fit in

Shane Victorino rips radio hosts for twisting Hamels trade talk

Jerry Jones on Greg Hardy: He's paid a 'terrific price'

Senators to fans: Stop throwing hamburgers on the ice

Revis: Patriots' offer 'wasn't in the ballpark' of what he wanted

Toronto Raptors limping into the playoffs

Best picks ever at every spot in first round of NFL Draft

Alonzo Mourning confirms “Who wants to sex Mutombo?”

CC Sabathia attempting to get healthier by getting … fatter?

You can bid on Andrew McCutchen’s recently cut locks

Is Chuck Pagano receiving the Jim Harbaugh treatment?

Wideouts wearing out their welcome

Dean Smith willed $200 to each of his former players

10 best coaches who have never been to the Final Four

Five under-the-radar American League MVP candidates

Michigan sent recruit Naseir Upshur’s girlfriend a letter

Five MLB teams that could disappoint in 2015

NHL News
Delivered to your inbox
You'll also receive Yardbarker's daily Top 10, featuring the best sports stories from around the web. Customize your newsletter to get articles on your favorite sports and teams. And the best part? It's free!

By clicking "Sign Me Up", you have read and agreed to the Fox Sports Digital Privacy Policy and Terms of Use. You can opt out at any time. For more information, please see our Privacy Policy.
the YARDBARKER app
Get it now!
Ios_download En_app_rgb_wo_45

Five under-the-radar AL MVP candidates

Michigan sent recruit's GF a letter

MLB teams that could disappoint

25 years ago, the best Sweet 16 of all time was pure madness

The 2015 bad quarterback carousel

17 facts to know before the Sweet 16

Agent: Sam was horrible at veteran combine

Keeping judo ‘pure’ in Europe means keeping MMA out

The Sweet 16 should be seen as success

On the Browns, Hard Knocks, questions and narratives

Sweet 16 West Region preview

Sweet 16 Midwest Region preview

Today's Best Stuff
For Bloggers

Join the Yardbarker Network for more promotion, traffic, and money.

Company Info
Help
What is Yardbarker?

Yardbarker is the largest network of sports blogs and pro athlete blogs on the web. This site is the hub of the Yardbarker Network, where our editors and algorithms curate the best sports content from our network and beyond.