Tag:Phoenix Coyotes Sale
Posted on: August 19, 2011 11:11 am
Edited on: August 19, 2011 4:42 pm
 

Ex-Sharks CEO Jamison interested in Coyotes

By Brian Stubits

It's another day, so naturally there's another name being thrown out in the Phoenix Coyotes ownership search. I must admit, this one seems like it could be legit.

Glendale spokeswoman Julie Frisoni confirmed Friday that Greg Jamison, former Sharks president and CEO as well as current part-owner, is one of the bidders to buy the franchise and that no bonds would be sold as part of any proposed deals. She would not elaborate on the negotiations or who the other bidder was.

Last week it appeared a Canadian group was moving toward a purchase of the team that would contain an eight-year out clause that would allow them to relocate if conditions didn't improve. It made sense. It also helped substantiate a report earlier that said there were two as-of-then unnamed suitors with serious interest in buying the team.

The Phoenix Business Journal reported that Jamison is at the head of a new ownership bid to buy the team and is looking to keep them where they are. The Journal says a sales agreement is expected to be worked out very soon with the NHL, which includes money down front, giving Jamison's group exclusive negotiating rights.

ESPN.com, meanwhile, reports the talks aren't as advanced as the Journal indicates, saying that Jamison isn't poised to make an offer as of yet.

A little background on Jamison: He was the head of Silicon Valley Sports & Entertainment from 1996 until late in 2010. He still serves on the Sharks' board of ownership and also served on the NHL's executive committee. That past relationship could seriously help a bid here considering the team is now owned and controlled by the league itself. But the ownership ties with San Jose would obviously have to be severed first.

Things have certainly picked up since Matthew Hulsizer dropped out of the process. When that happened, the future was very dim in the desert as it seemed the potential suitors had dried up. But in the last week two seemingly serious and viable bidders have emerged.

As always, we have learned not to count our chickens before they hatch in this never-ending Coyotes story. But optimism is on the rise after sinking.

Photo: Getty Images

The Associated Press contributed to this report

For more hockey news, rumors and analysis, follow @EyeOnHockey and @BrianStubitsNHL on Twitter.

Posted on: August 11, 2011 11:32 pm
 

Report: Canadian group eyeing Coyotes purchase

By Brian Stubits

Earlier this week a report surfaced out of Arizona that two groups were still negotiating to buy the fledgling Phoenix Coyotes franchise. Considering how the process has gone since the NHL has owned the team beginning in 2009, skepticism was naturally high.

Then came a report on Thursday night from the Business Journal that a Canadian group with plenty of cash is formulating a plan to purchase the team. All of a sudden there is hope again in the desert, something that hadn't been in high supply since Matthew Hulsizer withdrew from the process.

The report goes on to say that in the proposal at this point, there would a seven-year out clause where the owners could relocate the franchise if market conditions don't improve. That's a pretty substantial amount of time for the fans in Arizona to prove their desire to keep the team or not and would have to be considered amply fair.

It goes on to say the deal could possibly be approved by the NHL in the coming days.

Reaching a deal soon (relatively speaking) is imperative to keeping the team in Arizona. The city of Glendale still has $25 million set aside to cover any operating costs the team might have to pay, but it's not clear whether or not that money would be available for another season, with the answer likely be no.

Also from the Journal, one of Hulsizer's biggest hurdles seems to be less of an issue with this potential ownership group.

A $40 million to $50 million contribution by Glendale towards the purchase could avoid a lawsuit promised by the Goldwater Institute Goldwater watchdog group. Glendale wanted to make available $100 million worth of bonds to help Hulsizer [buy] the team, but that deal fell apart in part because of Goldwater's legal opposition.

As promising as this latest development might sound, it would still be wise to tamper enthusiasm. They have been closer in the past to getting a deal reached with a new owner only to have it fall apart. But hopefully for the fans in the desert, this is more than just another mirage.

Photo: Getty Images

For more hockey news, rumors and analysis, follow @EyeOnHockey and @BrianStubitsNHL on Twitter.

Posted on: August 9, 2011 2:33 pm
Edited on: August 9, 2011 2:41 pm
 

Report: Two potential buyers in on Coyotes talks

By Brian Stubits

It's the neverending franchise-selling story. The Phoenix Coyotes still have a desert future hanging in the balance and after Matthew Hulsizer dropped his bid to buy the team, that future looked bleak.

But there might be a beacon of hope again. Make that two beacons.

Mike Nealy, Coyotes COO, said that the team continues to hear from two potential buyers, according to Arizona Republic reporter Lisa Halverstadt. Who those suitors are is not known. They have asked to remain anonymous as negotiations go on. Halverstadt says both names are known in the sports world, however. (Jerry Reinsdorf still around, perhaps?)

Expect news to pick up when Glendale City Council members return from their summer recess. The stated goal by the council is to have everything wrapped up come fall. At this point, with how long the search has been going and all the hurdles that have been placed as obstacles, that seems a bit on the optimistic side. Just a touch

Stay tuned. I'm sure in a couple months there will be three potential buyers, none of which are currently in the mix.

Photo: Getty Images

For more hockey news, rumors and analysis, follow @EyeOnHockey and @BrianStubitsNHL on Twitter.


 
 
 
 
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