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vancanfan

[Report] Jamison secures financing to purchase Coyotes

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http://espn.go.com/nhl/story/_/id/8338670/source-says-phoenix-coyotes-suitor-greg-jamison-secures-financing

Even as the NHL's regular season remains shrouded in uncertainty with the threat of a lockout, the long-awaited sale of the Phoenix Coyotes is actually coming more clearly into focus.

A source confirmed to ESPN.com Tuesday evening that suitor Greg Jamison, the former president and CEO of the San Jose Sharks, has finally arranged financing that would allow him to purchase the team from the National Hockey League for $170 million, and that any issues with the lease agreement between the City of Glendale and Jamison's investors for Jobing.com Arena, where the Coyotes play, are expected to be resolved by the end of September.

Among the investors, who have to this point remained unidentified, are some members of the Ice Edge Group, a collection of Canadian and American businessmen who at one point were front-runners to buy the team themselves, the source told ESPN.com.

Ice Edge head Anthony LeBlanc has been in discussions with Jamison throughout the summer in putting a deal together to buy the team although it's not known exactly what role the group will play in the new ownership structure.

A second source confirmed to ESPN.com Tuesday that a deal that would see the league's three-year run as stewards of the financially beleaguered team come to an end is nearing completion.

Jamison had previously agreed to a deal with the City of Glendale for a 20-year lease that would see the city pay $324 million in management fees over the life of the lease. That agreement only becomes valid when Jamison closes the deal with the NHL although multiple sources said that once the sale is completed the lease agreement will kick in virtually simultaneously. There could be some minor tinkering with the lease agreement before the sale is complete but nothing major, the source said.

The ongoing labor negotiations between the NHL and the National Hockey League Players' Association will have no bearing on the sale being completed. The NHL is expected to lock out its players if a new collective bargaining agreement isn't reached by Sept. 15.

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Not even disappointed now. Doan will just be another year older, and won't be as effect after the lockout as he would be now IMO. Better for MG just to save the cap space for after the lockout, then be stuck with Doan who may not play to the contract you sign him to.

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Doan never had intentions to join any other team. He was using teams like Vancouver to give Phoenix a reason to hand him the big cash.

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frack..... ok Kassian it is time to step up to the plate and produce on the second line. The spot is vacant and Kass has as good a chace as any to earn it in camp

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Yeah figured this would happen. Ah well, give them a few years, they'll be bankrupt before long.

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This just in, every single major bank in the Phoenix area has been robbed. Police are now taking suspects.

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Doan never had intentions to join any other team. He was using teams like Vancouver to give Phoenix a reason to hand him the big cash.

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But just imagine if the Coyotes won the Cup and they had to move? :P

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Jamison, who doesn't have the money, is being supported by Ice Edge, who didn't have the money?!?

I give it two weeks.

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Once again, another borderline Owner that was barely able to afford the NHL club. They are going to be like the Phoenix coyotes of old. That being said, I thinking was worst case scenerio, which was Doan not signing with the Canucks. Oh well. We don't need Doan. I just hope David Booth goes back to his 25 goals form. Then we are fine.

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The reality of the situation is a team CANNOT survive in the market Phoenix has to offer. No matter who buys the team the only thing that will save the team is a re-location or if they somehow manage to win the cup and get more fans.

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Well we would have made an enormous mistake signing a 35 year old hockey player to anything more than $4 M a season. Let Doan finish his career in Phoenix, and this will enable us to after younger, stronger, better players.

Doan was never going to be the answer.

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Surley Doan will stay in Phoenix now. Time to move Luongo.

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If the dude can barely scrape together the money to buy the team, how's he going to stand a losing season?

The other teams are STILL going to have to prop up the Coyotes...what a weird way to do business.

Bettman takes the hard line against players, business partners that bring the whole meal to the table. And then allows shady owners to buy teams, guys that are often not wonderful business partners.

Bettman' NHL is really starting to stink.

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If the dude can barely scrape together the money to buy the team, how's he going to stand a losing season?

The other teams are STILL going to have to prop up the Coyotes...what a weird way to do business.

Bettman takes the hard line against players, business partners that bring the whole meal to the table. And then allows shady owners to buy teams, guys that are often not wonderful business partners.

Bettman' NHL is really starting to stink.

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