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Report: Jamison can’t come up with enough capital for Coyotes sale

Jan 30, 2013, 9:01 PM EDT

Greg Jamison Getty Images

One prominent report asserts that Greg Jamison will close on the Phoenix Coyotes sale by Thursday’s friendly lease agreement deadline, but ESPN’s Scott Burnside quotes multiple sources who believe that he can’t raise the capital needed to do so.

That could lead to Jamison being ousted from the deal-making altogether, with a new group of investors reportedly primed to step in, according to Burnside.

New Glendale mayor Jerry Weiers has stated that he won’t extend the offered lease agreement* beyond tomorrow’s midnight deadline, opening the door for that new group to possibly discuss a revised agreement.

The new ownership group, which, according to sources, has arranged for financing that would allow for the purchase of the team from the league at a reported price of $170 million, is hoping to discuss parameters for a new lease agreement in the next few days, perhaps as early as Thursday.

Burnside notes that Weiers would likely ask for a lease agreement that’s more beneficial to Glendale than the one on the table for Jamison right now.

The NHL offered a vague reaction to the latest proceedings.

“It’s still a work in progress, and we’ll see how the week plays out,” NHL deputy commissioner Bill Daly told on Wednesday morning.

It’s been a lengthy process, but Burnside reports that relocation would be the likely result if Glendale cannot work something out with Jamison or the new group. To paraphrase Daly, we’ll need to wait and see what happens, with tomorrow potentially carrying big news.

* – Weiers wasn’t on the city council at the time it was made.


Report: Jamison to close Coyotes sale Wednesday or Thursday

Weiers won’t offer lease agreement extension

Glendale officials have no idea if Jamison can complete the deal

  1. bcsteele - Jan 30, 2013 at 9:17 PM


    Don’t worry, I wasn’t able to come up with the funds for my Ferrari with my middle class income…

    Hopefully the new group gets better results but they need to move if they can’t.

  2. ravenscaps48 - Jan 30, 2013 at 9:28 PM

    See you in Seattle, Coyotes… They’d be better off there anyways.

    • sasquatch678 - Jan 31, 2013 at 7:50 AM

      Amen. Seeing a less-than-half-full lower bowl for the duration of the third period in a game they win 4-0 (against the Preds, who they faced in the conference semis last year) as a conference finalist last year is unacceptable, regardless of whether or not it was a Monday night. Seattle or Quebec City wouldn’t have that issue.

  3. zetaone - Jan 30, 2013 at 9:37 PM

    How about relocating the team to…. PHOENIX??! Of course not many people will be there to support the team if they have to drive 30-60 miles out to the boonies in Glendale to see them play.. I know that’s not what the article is talking about, but it doesn’t make it any less true.

    • greatminnesotasportsmind - Jan 31, 2013 at 1:33 AM

      Is it just me or does the Arizona Cardinals not have a hard time selling out their stadium, which happens to be in the same city…

      • smgraff4 - Jan 31, 2013 at 12:21 PM

        The Mexico-Denmark friendly not only drew 43,000 people, but also drew a more enthusiastic crowd than any the Cardinals had this year. Whether the people there passionately follow Mexican club soccer (Liga MX), or just go to games to root on the national team of their parents, relatives, etc., is a different story, The bottom line is, a lot of what works in AZ, if it isn’t Arizona St or U of Arizona sports, is very much tied to Mexico (among locals). There are also lots of transplants

        Though the Caps are bad, people are much more willing to put up with tight security measures, overpriced tickets and food, and long commutes to the game, because hockey has much stronger roots in the DC area (than it does with Phoenix). People, including me, are more likely to debate the Caps on Twitter, or look for every snippet of information on an Ovechkin, or prospects like a Kuznetsov or a Forsberg or a R. Barber, (and even further down).

        Also, with any pro sport in Florida, SoCal, or Arizona, unless the team consistently wins trophies year-in and year-out, because there is a huge transplant community that tends to stick to the teams they rooted for in other parts of the country, it’s going to be difficult to build any serious loyalties to the local club.

    • pathoffman - Jan 31, 2013 at 9:37 AM

      I drive about 45 miles to Buffalo to watch the Sabres play. If you are a fan of the sport you’ll find a way to watch it live. Driving isn’t a valid excuse for poor attendance.

      • slickdemetrius - Jan 31, 2013 at 12:03 PM

        Especially when you probably do the drive in some nasty weather much of the time. I drive through LA congestion for an hour to watch the Dodgers, which proves if it means enough to you, you’ll take the pain of getting there.

  4. pavelfitzgerald - Jan 30, 2013 at 9:45 PM

    *sigh* Phoenix didn’t support the team when they were in Phoenx for 4-5 years?
    Again, as I’ve stated many times – the Kii Oats have los money EVERY YEAR they’ve been in Arizona, Mesa or Phoenix. Thats a 16 year experiment that has failed. Insert Sun k’s comment about how “Phoenix is a big TV market & the Dodgers just got a 7 billion deal. You can grow the game in Phoenix, you can’t in Quebec”.
    Just move the team already. I know Quebec is too logical of a choice so Bettman won’t. Hell, give Seattle a chance. I really don’t care, just move them out of Phoenix. This has gone beyond defying logic. If I was the players I would’ve negotiated Phoenix having to move, especially when the owners are complaining that they don’t make enough money. Ri gronk u lous

  5. mudkip23 - Jan 30, 2013 at 9:46 PM

    What do you mean he doesn’t have the funds?!? Noone saw this coming!

    • nothanksimdriving123 - Jan 31, 2013 at 3:17 AM

      I too am simply astonished. If everyone who reads this chips in, say, $1, I’m sure that would cinch it. No? 50 cents? A dime? OK, skip it. They could probably do better in Quebec or Seattle… or Cheyenne or Flin Flon or Dawson City or…

  6. jimw81 - Jan 30, 2013 at 9:49 PM

    shocker! Seattle would be a great market for nhl. why not just move some struggling teams back to hartford and Quebec where they would support a nhl team.

  7. luz56 - Jan 30, 2013 at 9:51 PM

    Fans really took to boycotting the games…. All seriousness they can’t get fans out when they are winning, what happens when the cyclical pendulum goes the other way? I know I wouldn’t be investing. In perspective … live in Edmonton or Calgary and drive to Red Deer for a hockey game. Now if we could only get the Bidwills to leave too

  8. noozehound - Jan 30, 2013 at 9:51 PM

    pack the team up and move them to Hartford, Quebec, or Seattle.

  9. tjromanello - Jan 30, 2013 at 9:55 PM

    Moving the team to Phoenix was the first problem for the Coyotes. Who in AZ watches or knows hockey?! Get rid of it! Move to Quebec, Hamilton or Hartford!

  10. goalie007 - Jan 30, 2013 at 10:04 PM

    When it Bettman going to pull his head out of the sand and figure out that this failed experiment is over? Move them to Quebec City or Hartford and get it over with, already.

  11. ron05342 - Jan 30, 2013 at 10:06 PM

    Gee, maybe he didn’t even come up with the $12,500 I thought he had by yesterday.

  12. guitarmy204 - Jan 30, 2013 at 10:08 PM

    It’s about time someone takes this behind the barn and puts it out of it’s misery.

  13. thailer35 - Jan 30, 2013 at 10:19 PM

    @tjromanello – I live in Phoenix, and know, and watch hockey.

    And this sucks.

    • ron05342 - Jan 30, 2013 at 10:54 PM

      The problem is there isn’t enough of you. I don’t know how much holds, but it must be around 17,000 to 18,000. To consistently fall short of that figure, night after night, by 5,000 or 6,000 empty seats, and the sport just isn’t viable in the Phoenix area.

      I want Phoenix to keep the Coyotes. The Kings and Coyotes were just developing that intense rivalry that really simmers the stew, and to lose them now would be a travesty for true hockey fans.

      But after 15 years, the writing is on the wall. If they still are only filling that arena by only 2/3, its pretty obvious where this thing is headed.

    • wisbadgers - Jan 30, 2013 at 11:05 PM

      So do I. This sucks. I know everyone on this message board is an expert on the business model and loves to talk about how “hockey won’t work in the dessert”.
      All I can say is that I take my two sons (age 5 and 8) to about 15 – 20 games a year from Gilbert (1.5 hour drive). WE LOVE HOCKEY!!! And now we may not be able to watch it in person anymore.
      I’m physically ill at the news.

      To all you Yotes haters, imagine how you’d feel if they relocated your favorite team and you could no longer go to games.

      At the end of the day, every one of us loves hockey, and losing the Coyotes….just sucks!!!

      • wisbadgers - Jan 30, 2013 at 11:06 PM

        age 5 and 8, not sure where the smily face came from…LOL>

      • klima85wing - Jan 30, 2013 at 11:42 PM

        How did Jets fans feel losing their team despite having a ton of fans just a bad arena in 1996?

  14. proudliberal85392 - Jan 30, 2013 at 10:28 PM

    thailer35, I live near the arena. I know hockey and I watch hockey. Speak nothing of which you know nothing.

    This is potentially very disappointing. We’ll see what happens tomorrow.

  15. proudliberal85392 - Jan 30, 2013 at 10:33 PM

    Sorry, thailer. My comments were directed at tjromanello. You’re exactly right…unlike tjromanello.

  16. ruffridin - Jan 30, 2013 at 10:53 PM

    Seattle Mets…awesome

  17. georgemuresanwasmygiant - Jan 30, 2013 at 11:19 PM

    Can someone ask Daly/Bettman why the NHL needs sell the Coyotes for $170-180 mil? This would prob be over if the NHL would just sell the Coyotes for the $130-140 they bought the team for 3 years ago

    • atwatercrushesokoye - Jan 31, 2013 at 12:12 AM

      I believe it’s because Bettman guaranteed the owners that they would not lose money on the deal, and since the Coyotes do annually lose money they’re trying to recoup that.

      • tmoore4075 - Jan 31, 2013 at 12:20 PM

        This is exactly it. The NHL paid 170mil for it and promised the owners they wouldn’t lose money. The owners won’t take less when they know another market will pay that easily.

  18. klima85wing - Jan 30, 2013 at 11:46 PM

    This team doesn’t belong in Phoenix. Enough is enough already. The area has had their chance and they blew it. The excuses are stupid! Saying its a far drive, gimme a break! People all over the state if Michigan attend Red Wings games. Same with every other team.

    Quebec City has a chance again. The league made a mistake moving them. Now they have the chance to correct that mistake.

  19. pavelfitzgerald - Jan 31, 2013 at 2:01 AM

    Great point at minnesotasportsmind
    @wisbadger – see Jets fans, Nordiques fans & Whaler fans. All passionate, near sell out fan bases that lost their team due to ownership/arena issues. Phoenix will lose their team due to lack of fan issues. Your family & you are in the minority

  20. saintmac9 - Jan 31, 2013 at 3:02 AM

    I am a coyotes fan and I want them to stay but damn this has gone on to long

  21. hockeywithdrawal - Jan 31, 2013 at 10:02 AM

    My son’s hockey team is selling chocolate as a fundraiser…maybe they should just freaking try that.

  22. tmoore4075 - Jan 31, 2013 at 10:06 AM

    Where are the people who said it can take the full 60 days for someone to find the funds in this complicated of a deal? Ken Campbell reported last night Jameson had virtually NONE of it. Another group? Really? Jameson is well known around the league and has been successful and he couldn’t get it done. If anyone of the 4 potential owners over the last 4 years I thought he as the most likely to close the deal, although I didn’t believe he would. Seattle and Quebec are waiting boys and you are having 8-9k show up in Phoenix. I’m hoping this is just a smoke screen to give the appearance of them staying and that they are talking to Quebec and Seattle. Sorry Coyotes fans but it’s been 4 years now.

  23. darksidecowboy - Jan 31, 2013 at 12:34 PM

    For the love of hockey god, please put us out of this misery every year! Either get it done or move this team! signed a diehard Yotes fan…..sigh

  24. tmoore4075 - Jan 31, 2013 at 12:41 PM

    According to one article that was just posted, Jamison (well a lawyer of his) asked for an extension on the deadline and was told no by the mayor. It is appearing more and more done.

    • darksidecowboy - Jan 31, 2013 at 12:54 PM

      Glendale’s mayor already told Jameson no extension weeks ago. The fat lady is singing in the desert. Looks like I might be watching my desert dogs in Seattle unless Alice Cooper decides to kick in a few million.

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