A sale of the Phoenix Coyotes hockey club to an ownership group led by former San Jose Sharks CEO Greg Jamison could be approved by the National Hockey Leagueand city of Glendale as early as May 8. That would keep the Coyotesin Arizona and allow the team to rollover its on-ice success in this year's Stanley Cup Playoffs into ticket sales and business sponsorships for next season.
Jamison has brought together the investment money necessary to purchase the Coyotes from the NHL and keep the team in Glendale, sources familiar with thesale of the franchise said. Previous Attempts to buy the team have struggled to secure financing and monetary commitments for a franchise that loses $25 million each season.
If Jamison has his investment ducks in a row, it could result in the NHL officially announcing sometime next week that theCoyotes are off the market with terms of sale being finalized with Jamison, who still is a minority owner of the Sharks.
The NHL has owned the team since buying them out of Chapter 11 bankruptcy protection in 2009 for $140 million.
The Glendale City Council could vote on an arena lease deal and financial payments to Jamison’s group as early as its May 8 meeting, according to officials familiar with the matter. The city, however, has nothing on its council agenda yet, according to Glendale spokeswoman Juile Frisoni.
The city likely won't announce the details of a Coyotes plan and public vote until Friday if a vote is slated for May 8.
The city, NHL and Jamison are working out the Glendale portion of the deal that previously has tripped up other bids for the Coyotes. Glendale City Council members will be briefed again on the Coyotes situation early next week
Edited by Henrik Sedin, 30 April 2012 - 09:45 AM.