Former San Jose Sharks’ CEO Greg Jamison leads investors buying Phoenix Coyotes-NHL News
Phoenix Coyotes, which was bought by the league out of bankruptcy three years ago, is all set to be sold out to a group of investors led by former San Jose Sharks’ Chief Executive Officer, Greg Jamison.
National Hockey League (NHL) commissioner, Gary Bettman, disclosed on Monday, May 07, 2012, that his office was closer to finalisation of a formal agreement with the group, setting the tone for transfer of the team to the new owners in, what he said, matter
of weeks.
According to the commissioner, a preliminary understanding has been reached with the investors and they were now looking to finalise the deal.
He added that the stakeholders were working out on the preparation of final sales agreement, which could possibly take a few days.
In any case, it is for the first time that the deal for the Coyotes, who are without an owner over the period of last three years, looks to be realistic.
The commissioner declined to confirm his remarks as a formal announcement by the league and said it should be considered an update on the matter. He said he sees all things on track and progressing well.
Bettman said:
"We didn't have a formal announcement to make; this is more of an update to where things are."
He added:
"But we think things are on track and see light at the end of the tunnel. This is a path, based on everything we know, we're comfortable pursuing."
Along with the deal processing, the new owner is also in talks with the local authorities in the city of Glendale, seeking renewal of lease for Jobing.com Arena for use in the longer run.
Jamison said:
"It's been some interesting times, some ups and some downs, but the future we believe is very bright. The future is bright for participants, for fans and sponsors and suite holders, and we're excited about it."
The prospective Coyotes’ owner is in talks with the city council about renewal of the lease for some time now, but so far no concrete progress has been reported.
Hopefully all goes as planned and it is a matter of weeks that the Coyotes will be in the hands of a new owner, as aimed by Bettman.
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