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Jamison group to sign Coyotes lease, has until Jan. 31 to close on purchase

Dec 21, 2012, 12:56 PM EDT

Nashville Predators v Phoenix Coyotes - Game One Getty Images

The prospective Phoenix Coyotes ownership group led by Greg Jamision is set to sign the much debated lease with the City of Glendale (owner of Arena), after which it will have until Jan. 31 to close on its purchase.

That news comes via Sportsnet’s John Shannon, who was told by someone in Phoenix that it was important because “it’s further down the road than the process has ever been in the past.”

The city has already signed the arena management agreement that calls for $320 million to be paid to Jamison’s group over the 20-year term of the lease. Once the sale of the club closes, the agreement goes into effect.

What will be interesting (OK, maybe that’s too strong a word) to learn is with whom Jamison has partnered. So far he’s refused to share that information.

Related: Glendale mayor-elect unhappy with Coyotes lease

  1. thailer35 - Dec 21, 2012 at 1:05 PM

    At least I have this good news for Christmas! Now if only I could actually watch them play and see that Pacific Division Champs banner go up…

    Alright PHTers, it’s time! Bring on the Phoeniphobia and thumbs down!

  2. jaybertx - Dec 21, 2012 at 1:36 PM

    I am very happy for Phoenix and hope that it gets done this time.

  3. ron05342 - Dec 21, 2012 at 2:00 PM

    Today is December 21, and by my calendar, he’s already had three weeks to complete the purchase.

    What’s taking him so long? I thought the guy had the funds wrapped up already!

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