Source: Phoenix Coyotes get financing for sale
Sep 5, 2012, 4:16 AM | Updated: 5:40 am
According to ESPN.com, the sale of the Phoenix Coyotes appears to be one step closer to completion.
A source confirmed to ESPN.com Tuesday evening that suitor Greg Jamison, the former president and CEO of the San Jose Sharks, has finally arranged financing that would allow him to purchase the team from the National Hockey League for $170 million.
The lease agreement between the City of Glendale and investors is also expected to be settled by the end of September.
The former San Jose Sharks CEO has been close to finalizing the deal many times, but had previous investors back out. It now seems those issues have been resolved.
Among the investors, who have to this point remained unidentified, are some members of the Ice Edge Group, a collection of Canadian and American businessmen who at one point were front-runners to buy the team themselves, the source told ESPN.com.
Labor talks and a potential NHL lockout will not prevent the sale from going through.
