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Report: Jamison struggling to raise money to buy Coyotes

Jun 6, 2012, 3:25 PM EDT

Coyotes vs Kings Getty Images

Last week, NHL deputy commissioner Bill Daly said “there don’t appear to be any roadblocks that would derail” a sale of the Phoenix Coyotes to a group of investors led by former Sharks CEO Greg Jamison. However, according to a Forbes report, Jamison is having trouble raising the money to purchase the club and keep it in the desert.

The NHL is believed to be asking $170 million for the franchise it bought out of bankruptcy in 2009.

Assuming the report is accurate, perhaps investors are hoping the league will drop its price.

Or, perhaps investors weren’t encouraged by the fan response to the Coyotes’ playoff run and are having second thoughts. We only say this because it was reported in April that Jamison had “brought together the investment money necessary to purchase” the team.

Regardless, time is really running out to get a deal done. Last year, the NHL confirmed the Thrashers would move to Winnipeg on May 31.

Related: Glendale release details of latest Coyotes sale proposal, including possible name change

  1. govtminion - Jun 6, 2012 at 3:42 PM

    Sur-priiiiiiiise…

  2. tmoore4075 - Jun 6, 2012 at 3:57 PM

    And the ears of people in Quebec all started listening again.

  3. theawesomersfranchise - Jun 6, 2012 at 4:25 PM

    “Who wants to lose money” is a tough sales pitch

  4. ynothockey - Jun 6, 2012 at 5:46 PM

    Blah blah blah. Another story made up by the media as usual. What will you write about when the deal is done and the Coyotes are STILL in AZ? O yeah how they can’t make it in AZ. Again Blah blah blah.

    • brucewaynewins - Jun 6, 2012 at 7:10 PM

      If that happens we’ll be reading accurate stories about how the team is still bleeding money because having an actual owner makes no difference. Just because Bettman wants a team in a large market and is stubborn doesn’t mean he should let it bleed dry.

  5. fiddytucker - Jun 6, 2012 at 7:11 PM

    No fat lady yet.. Smart to buy lower, just a vise cranking to get NHL to go even lower.

    • tmoore4075 - Jun 7, 2012 at 10:22 AM

      The NHL probably won’t lower it though. They told the owners they wouldn’t lose money on the deal buying them out of bankruptcy. They paid $170mil and that’s what they want for it. No matter what you believe if the team can survive there or not, losing money every year and attendance not being great is a hard sell. Whether you can make it viable in the future doesn’t matter in the present. People are looking at what it’s done.

  6. proudliberal85392 - Jun 6, 2012 at 7:15 PM

    ynothockey: Exactly.

  7. atwatercrushesokoye - Jun 6, 2012 at 8:00 PM

    Maybe he could get the city of Glendale to front him the money? They seem to have no concept of good deals.

    The City of Glendale reminds me of the news stories you see where some unsuspecting senior gets an email that they won the Jamaican lottery and in order to claim their prize they need to send money to pay the taxes.

  8. drewzducks - Jun 6, 2012 at 9:47 PM

    I would have thought that a multiple media mogul like Jenna would have boatloads of cash by now.

  9. bleed4philly - Jun 6, 2012 at 11:35 PM

    Cuban needs to buy this team!

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