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The deadline for Greg Jamison to complete his purchase of the Phoenix Coyotes is perilously close to expiring.

And according to a report from ESPN, that Thursday midnight deadline will pass with no agreement in place.

Former San Jose Sharks CEO Greg Jamison, the main suitor for the Phoenix Coyotes for the past year, cannot produce the capital needed to purchase the team from the NHL and as a result a Jan. 31 deadline to maintain a critical lease agreement with the City of Glendale will pass without a deal being completed, multiple sources have told ESPN.com.

The ESPN report goes on to say another ownership group could step forward after the deadline, but it's questionable whether or not the City of Glendale would be willing to start over in the process seeing as how Jamison negotiated the 20-year lease agreement for Jobing.com Arena.

The Coyotes have been owned by the NHL since former owner Jerry Moyes entered into Chapter 11 bankruptcy in 2009.

Arizona Sports,

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  • Abuse
    Whatashame wrote...
    What a shock!
    January 30, 2013 5:58 pm
    Who could have seen this happening?
  • Abuse
    Hummer71 wrote...
    week day games
    January 30, 2013 6:07 pm
    I think Jamison's money men got cold feet. They can see that this team does not draw even average on week day nights. Can't play Detroit and Chicago on weekends all season.Even after going to the West finals last year. It's just too far for East Side fans. It's sad if true.
  • Abuse
    Jarrod P. wrote...
    As Backstreet Boys Would say...
    January 30, 2013 7:36 pm
    Bye Bye Bye..... Ok, backstreet reference.. horrible. honestly, it is sad. I am an east coast guy (I know I know- go home, leave town, Yankees suck- I get it) although the Yankees do suck.. I am an east coast guy- the guy the team should market to, the guy who IS willing to drive 40 miles each way, in rush hour to see a game. I did it on Long Island going from the east end to the Nassau Coliseum to see the Isles.
  • Abuse
    Jarrod P. wrote...
    Continued....
    January 30, 2013 7:38 pm
    But.. the team has the worst marketing group in sports. NOTHING in the east valley says there is a hockey team in town. The team NEVER does anything in the east valley. We live in a city of 5 million people. I have to think that 50% are transplants. I have to think that most come from hockey hotbeds- NY, Mass, Chi, DET, CANADA, etc.. yet they cant fill the barn each game? They have a new generation of NATIVE fans being born here yet they cant capitalize like the Cards and D Backs..
  • Abuse
    Jarrod P. wrote...
    Part 3...
    January 30, 2013 7:40 pm
    The base of fans here is rabid for their team..no pun intended.. But the base of 2500-3000 fans cannot support the team. This team was a game away from the CUP last season and NOTHING in the way of ads or specials or anything..Offer me a two for one. Offer me an upgrade. a darn hotdog for goodness sake.. NOTHING.. Then they are not on tv. No local television..it was a joke from the start. The past few years have been horrible. This team is going away and I blame the owners, the league, the marekting department, and Wayne Gretzky-
  • Abuse
    Jarrod P. wrote...
    And LAstly..
    January 30, 2013 7:41 pm
    People here need to WAKE UP- it is OK TO DRIOVE OUTSIDE OF YOUR ONE MILE BOX!! The claim that it is too far is a joke. It is true, but a joke.. They should have made Los Arcos work or created a new arena to share with the Suns.. Instead they screwed it all up from the start.. I HOPE this team stays here but unless Colangelo buys it they are leaving...sorry Yotes faithful..
  • Abuse
    Whatashame wrote...
    Jarrod P.
    January 30, 2013 7:46 pm
    leave now before you start slobbering.
  • Abuse
    mesa mad man wrote...
    @jarrodp
    January 30, 2013 7:50 pm
    Firstly, and most embarrassingly, believe nsync sang bye bye bye. Secondly, I think the marketing has been so poor because they don't have any budget at all because they are league owned. The first thing a new owner would do hopefully would be to start marketing the team. Return on investment for that is hard to do though and investors likely are getting cold feet. They need to see the potential, it is deep down and a risk, but if done properly could really reap benefits
  • Abuse
    bobinchandler wrote...
    MMM is dead right
    January 30, 2013 8:32 pm
    Couldn't have put it any better than that. How embarrassing. BSB - really? And you are dead-on the money reason - it's too great a risk and not worth the investment. There are very few NHL clubs that are profitable year in and year out, and the people who invest this kind of money, need to see a return. It could work, but money, lots of it, needs to be spent in order for the return to be there. They, we, need to find an owner able and willing to do just that.
  • Abuse
    Jarrod P. wrote...
    So
    January 30, 2013 10:22 pm
    I thought all boy bands were the same.. LOL I agree-- I think a new owner would HAVE to market his product.. I really hope they stay.. I hope they find an owner. I hope they build on their base fans...
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