May 10, 2010, 9:54 PM EST
Ice Edge Holdings was seemingly the last chance for the City of
Glendale to keep the Coyotes in Arizona and tonight we learn that that
talks have broken down between the city and Ice Edge, leaving the
possibility of the team staying in Arizona in serious jeopardy. An
agreement was necessary to be in place, as the Glendale city council
would be voting on a proposal tomorrow. With no agreement in place,
there will be no vote.
Ice Edge was hoping to agree to terms with the city today,
including one of exclusivity, and when neither side could come to an
agreement the company backed away from the negotiating table.
appears one major hold up in this mess is the NHL’s desire for insurance
from the city that any deal would be able to cover any losses by the
team for next season. With talks with Jerry Reinsdorf falling apart,
Glendale then turned at the last moment back to Ice Edge, hoping to sign
an agreement of exclusivity in time for tomorrow’s vote.
neither Ice Edge nor Jerry Reinsdorf in place to purchase the franchise
it’s more than likely that the NHL will now step in and take steps to
finalize a sale to David Thompson, one which would then move the
franchise back to Winnipeg.
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