Found January 30, 2013 on
Fox Sports Arizona:
GLENDALE, Ariz. -- Two league sources have told FOX Sports Arizona that it is unlikely prospective Coyotes owner Greg Jamison will be able to assemble the money and investors in time to meet a Jan. 31 deadline to purchase the club. If that deadline passes, Jamisons bid to end the team could be over.
If that happens, the league could open the bidding process again to other potential suitors. ESPN reported that a separate, unnamed group of investors is prepared to step in if Jamison is unable to close the deal by Thursday.
What is unclear is if the City of Glendale will agree to an extension on the 308 million lease agreement with a new group. New Mayor Jerry Weiers, who took office after the lease agreement was approved by the previous council, could push for a reworked agreement that is more beneficial to the city, and he made it clear to the Arizona Republic that he would not honor the current deal after Jan. 31.
As late as late week, Jamison remained optimistic that he could close the deal, but with a Jan. 31 deadline looming, Jamison admitted that it was a close call securing all the investors. Contrary to widespread reports, Jamison made it clear that he did not yet have all the money or investors necessary to purchase the team.
The Coyotes annual losses of between 20 million and 30 million, opposition by citizen groups and the Goldwater Institute, and the 113-day lockout all have hindered his efforts, as has the NHLs reported asking price of 170 million.
If the Jamison chapter does end, the most bizarre and lengthy ownership saga in NHL history would continue. Previous owner Jerry Moyes attempted to put the team into bankruptcy nearly four years ago and then attempted to sell the team to Canadian billionaire and Blackberry founder Jim Balsillie, but Balsillie's purchase was contingent on moving the franchise to Hamilton, Ontario, a move strongly opposed by the NHL. A bankruptcy judge rejected Balsillie's bid, leaving the NHL as the only bidder, buyer and hopeful seller.
The team thought it had an owner in Matthew Hulsizer, co-founder and chief executive officer of PEAK6 Investments, but that deal fell through amid opposition from the local watchdog Goldwater Institute and questions about Hulsizers available funding.
Jamisons name first surfaced about a year ago, and after a pair of failed citizen challenges, the Glendale City Council eventually approved a lease agreement with Jamison and set a Jan. 31 deadline for him to complete the purchase of the club.
In the meantime, the low-payroll Coyotes made the playoffs the past two seasons and advanced all the way to the Western Conference final last season, marking the best finish in franchise history.
Jamison had made it clear that his top priorities from a hockey operations standpoint would be to get general manager Don Maloney, coach Dave Tippett and goalie Mike Smith signed to new contracts. All three are in the final year of their deals. Clearly, those deals would be on hold if Jamison is out.
If Jamison fails and the new group can not broker a lease agreement with Glendale, it could mean the end of the Coyotes tenure in Arizona -- one that began in 1996 when the franchise relocated from Winnipeg. Quebec City and Seattle have been mentioned as possibilities, as has Markham, Ontario, a town north of Toronto that recently approved funds to build an NHL-style arena.
The league is not expected to issue a statement regarding the sale of the club until the Jan. 31 deadline has passed.
Follow Craig Morgan on Twitter
BEST OF MAXIM
Phoenix Coyotes defenseman Derek Morris attacked Edmonton Oilers defenseman Ryan Whitney as he celebrated teammate Nail Yakupov's game-winning overtime goal in Wednesday night's 2-1 Oilers victory.
Whitney got the assist on Yakupov's power play goal at 3:52 into overtime, but Morris thought the puck deflected off Whitney's glove, which would have been a hand...
The Phoenix Coyotes are probably hoping Mike Smith returns to form when he is back on the ice.
Smith is expected to play for the visiting Coyotes on Friday night when they try to hand the Dallas Stars a fifth straight loss in the opener of a home-and-home set.
Smith will be back for Phoenix (2-4-1) after missing four games with a lower-body injury. Jason LaBarbera and Chad Johnson...
A league official tells The Associated Press that 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.
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...
Raffi Torres' game is based on force and fury, his hard-hitting style fueling his teammates and inspiring fear in opponents.
But as he sat out for 21 games, the result of a suspension for hitting Chicago's Marian Hossa in last year's playoffs, the Phoenix Coyotes left wing had to rethink the way he plays, find a way to retain his aggressiveness and remove some of the...
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...
Greg Jamison is expected to fall short of his deadline to purchase of Phoenix Coyotes from the NHL, a source told the Arizona Republic on Thursday. Jamison, the former CEO of the San Jose Sharks, was given until midnight Thursday to close a deal with the suburban city of Glendale or it would rescind its lease agreement with Jamison for Jobing.com Arena, where the Coyotes play....
GLENDALE, Ariz. -- Coyotes coach Dave Tippett sounded like a man who already knew the outcome of prospective owner Greg Jamisons bid to buy the team by Thursdays deadline.
"This is not a surprise to anybody around here, he said. It is what it is. We deal with it like we've dealt with it for three and a half years."
League sources told FOXSportsArizona.com on Wednesday...
Damn you Bob Stauffer.
As usual, I'm up to late writing. Working on a Business Plan for the office, if you must know.
Earlier in the day, I wrote half of a blog...the key message in it was that Ryan Whitney looks like he's done, and the Oilers need to find a Top 4 left-pairing defenseman to deal for. After going through a big pile of team rosters, the name Keith Yandle...
Here are your “Leftgovers” from the Nashville Predators game on Monday night against the Phoenix Coyotes…
* With Patric Hornqvist on the shelf for 3-4 weeks, Matt Halischuk returned to the lineup.
* Monday night was just the third NHL start for Phoenix netminder Chad Johnson.
* It was also Johnson’s first career shutout.
* Richard Clune took...
The Phoenix Coyotes just turned to a goaltender who hadn't made an NHL start in three years. The result was the team's best defensive effort of the season.
With starter Mike Smith injured and backup Jason LaBarbera struggling, coach Dave Tippett may again turn to Chad Johnson on Wednesday night when the Coyotes go for their sixth consecutive victory over the visiting Edmonton...
GLENDALE, Ariz. -- Nail Yakupov scored a power-play goal 3:52 into overtime to give Edmonton a 2-1 victory over Phoenix on Wednesday, enabling the Oilers to break a five-game losing streak in the series. Yakupov scored his fourth goal of the season, tipping in a puck sent toward goaltender Chad Johnson after Coyotes center Antoine Vermette was called for high-sticking against...
PREVIEW 3:00 AM CST
Hoping to avoid a four-game losing streak, the Dallas Stars (2-4-1) host the Phoenix Coyotes (2-4-1) tonight at the American Airlines Center. It is the front end of a home-and-home set that continues tomorrow night in Arizona. Tonight's game starts at 7:30 p.m. CST and will be televised locally on Fox Sports Southwest.
This is the second of four meetings...