Phoenix Coyotes potential buyer Greg Jamison reportedly secures needed financing -NHL Update
In what turned out to be a sigh of relief and a much awaited development for the Phoenix Coyotes, prospectus buyer of the financially struggling National Hockey League (NHL) franchise, Greg Jamison, has reportedly secured enough financing to go ahead with
the purchase of the club.
According to ESPN.com, the news was made public on Tuesday, September 4, 2012, as it spread about being a good sign that many fans would be seeing Shane Doan continue to play for the Phoenix Coyotes, as this was one of the major demands he put forth as conditions
to re-sign with the club.
Jamison, former president and CEO of the San Jose Sharks, is learned to have received the $170 million needed to purchase the team from current owner, the NHL itself, which had been looking over the team ever since it lost hold of the lease on the Jobing.com
Arena and the club itself.
This has been reported by many experts to be a good sign indeed for the Glendale, Arizona, based team, which has been dealing with financial nightmares for the past three seasons and has resulted in long-time captain and veteran forward, Shane Doan, being
on the verge of leaving for good.
Shane Doan had set his deadline to September 15, the deadline of the current collective bargaining agreement, and will be making his decision by then, according to his agent. It seems now that the captain will return and could be making an announcement earlier
than thought with news of Jamison getting the needed amount.
Jamison is known to have agreed with the City of Glendale to an amount of $324 million, which would be management fees paid by the latter over a duration of 20 years. That is conditional to whether Jamison is able to make the purchase final from the NHL,
which is believed to be already planned out and just needed formal approval by the board of directors.
Changes in the agreements are expected as fresher ones will be made, but Shane Doan is probably the top priority for the team that was so close to winning the Stanley Cup last year and now seems so far.
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