Skip to content

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 ESPN.com 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.

Related

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

Latest Posts
  1. Bulletin-board material: Why your team won’t win the Stanley Cup

    Apr 16, 2014, 11:25 AM EDT

    Sidney Crosby, Zdeno Chara AP

    Prove us wrong, all 16 teams. Prove…us…wrong.

  2. Lightning’s Filppula, Palat expected to return for Game 1

    Apr 16, 2014, 9:51 AM EDT

    Ondrej Palat, Valtteri Filppula Ondrej Palat, Valtteri Filppula

    Tampa Bay’s top-six would have been in trouble without them.

  3. Fleury’s true comeback bid starts tonight

    Apr 16, 2014, 8:58 AM EDT

    Marc-Andre Fleury Marc-Andre Fleury

    His solid regular season will be overshadowed by whatever he does in the playoffs.

  4. 2014 Stanley Cup Playoffs: PHT’s Round 1 picks

    Apr 16, 2014, 7:00 AM EDT

    StanleyCupPlayoffs14

    Add yours in the comments section.

  5. Report: Duchene to miss at least first two games of Avalanche-Wild series

    Apr 15, 2014, 9:31 PM EDT

    Boston Bruins v Colorado Avalanche Getty Images

    “It puts a lot more pressure on everybody else,” says Nathan MacKinnon.

  6. Florida wins ’14 NHL draft lottery, will pick first overall

    Apr 15, 2014, 8:25 PM EDT

    NHL2014Draft

    After losing the No. 1 pick to Colorado last year.

  7. Pressing question: Will Philly get the goaltending?

    Apr 15, 2014, 6:55 PM EDT

    Steve Mason, Ray Emery AP

    Heck, will Steve Mason even be available?

  8. NHL hit with third concussion lawsuit

    Apr 15, 2014, 6:43 PM EDT

    bettmangetty Getty Images

    Just days after another group of ex-players filed last Thursday.

  9. PHT Extra: Can the Jackets upset the Penguins?

    Apr 15, 2014, 5:31 PM EDT

    Pittsburgh Penguins v Columbus Blue Jackets Getty Images

    What about the Stars over the Ducks?

Featured video

Are Penguins vulnerable vs. Columbus?
Top 10 NHL Player Searches
  1. E. Malkin (4408)
  2. T. Oshie (3163)
  3. M. Brodeur (3100)
  4. M. Duchene (2988)
  5. D. Backes (2936)