Jun 17, 2010, 12:32 PM EDT
Ice Edge Holdings met with Gary Bettman and other NHL officials on Tuesday to discuss their potential offer to buy the Phoenix Coyotes, according to Rebekah Sanders of the Arizona Republic.
The NHL is expected to continue examining Ice Edge’s proposal before team owners hold a vote. Meanwhile, the group continues to work out final details of the arena lease agreement with Glendale.
Ice Edge must prove to the city that it has financing to complete the team purchase by Friday.
If the group does not meet the deadline, Glendale would be free to re-open negotiations with any other group interested in buying the Coyotes. The NHL has given Glendale until Dec. 31 to complete a deal with a future owner. The extension was given after the city pledged $25 million to cover team losses until a buyer is secured.
While the story is far from over, it’s good to see that the process is at least moving toward a resolution. We’ll keep you up to date about the situation as details trickle down.
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