NHL rejects Pastor's bid to purchase Coyotes

The latest turn in the Coyotes ownership saga came swiftlybut not unexpectedly. NHL deputy commissioner Bill Daly confirmed Monday thatthe league had rejected a purchase bid submitted by Darin Pastor on Friday.The terms of his proposal were inconsistent with what wehad previously indicated were the minimum prerequisites of a serious andrealistic bid, Daly wrote via email.While Daly declined to offer more details, a source closeto the situation said one key sticking point was that Pastors bid financed thedeal over a 15-year period while the league expects the entire deal to becompleted within a three-to-five-year window, with the expected price still listedbetween 150 million and 170 million. On Friday, FOX Sports Arizona reported that Pastor had submitted a proposalthat was believed to include the highest total purchase price currently offeredfor the team, less annual commitment from the City of Glendale to manageJobing.com Arena and an option to purchase the arena over a period oftime. According to sources,