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Jamison reportedly traveled to Middle East in search of Coyotes investors

Dec 28, 2012, 11:31 AM EDT

Greg Jamison Getty Images

Finding investors to put their money into the perpetually money-losing Phoenix Coyotes has not been easy for prospective buyer Greg Jamison.

How tough has it been? According to the Globe and Mail’s David Shoalts, Jamison explored using something called the EB-5 program, which provides foreign nationals with a green card for investing money (typically a minimum of $1 million) in the United States.

Ultimately Jamison abandoned the EB-5 avenue, but not before he reportedly traveled as far as the Middle East in his search for backers.

“I’ve been at this 18 months, I’ve looked at everything,” Jamison told the Globe and Mail. “I’m aware of the [EB-5] program and what it can do. We did discuss it, but we’re not using it as part of our program, no.”

Who exactly comprises Jamison’s potential ownership group has been a mystery. The former Sharks executive has declined to share that information, even with the City of Glendale which recently signed the controversial arena management deal that calls for $320 million to be paid to Jamison’s group over a 20-year term.

Jamison hopes to close on his purchase by the end of January. Whether he actually gets it done, as usual we’ll have to wait and see.

  1. sbuchanan66 - Dec 28, 2012 at 11:40 AM

    you want this team to stop losing money? Move it to Hamlton or Quebec…..problem solved

  2. ron05342 - Dec 28, 2012 at 11:55 AM

    It’s as I said one week ago when he signed the lease…he has not closed the deal, and he has had four weeks to do so.

    So where are those investors, Jamie?

  3. tmoore4075 - Dec 28, 2012 at 2:23 PM

    If this is true then it’s for sure time to pull the plug…on January 31st. I mean come on. Having a lot of outside investors isn’t the best thing for a comunity because they have no ties to it. The Middle East? That’s even worse. I know the NHL would rather expand to QC for the higher expansion fee but cutting your worst franchise in terms of red ink and adding a team in QC will more than make up for it for the big time owners. Revenue goes up…cap goes up.

  4. jcmeyer10 - Dec 28, 2012 at 3:35 PM

    The hole is becoming squarer and the peg becoming rounder. A franchise in Pheonix keeps making less sense.

  5. atwatercrushesokoye - Dec 28, 2012 at 3:53 PM

    Are you sure he wasn’t just looking into more viable locations to move the Coyotes to?

  6. hockeyflow33 - Dec 29, 2012 at 2:20 AM

    Did he try Canada?

  7. fortwaynekomets - Dec 29, 2012 at 1:09 PM

    just moved that crappy team to Quebec, or Nova Scotia!

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