May 30, 2012, 3:58 PM EDT
Time for another Phoenix Coyotes update that isn’t really an update since there’s no real news to report.
“The process continues to move forward and there don’t appear to be any roadblocks that would derail it,” NHL deputy commissioner Bill Daly tells the Arizona Republic’s Lisa Halverstadt.
The league is hoping to reach a formal agreement to sell the franchise to former Sharks executive Greg Jamison.
Meanwhile, the City of Glendale, which owns the arena where the Coyotes play, is facing a budget crisis that’s already led to layoffs. And if a deal with Jamison is officially struck, the city is expected to pay a $17 million arena-management fee next fiscal year, plus a similar annual fee into the future.
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