Greg Jamison Unable To Complete Purchase Of Phoenix Coyotes
Greg Jamison has missed his deadline to buy the Phoenix Coyotes before a lease agreement with the City of Glendale expires, according to ESPN.com.
The former CEO of the San Jose Sharks had until midnight Thursday to buy the team from the NHL under the terms of the lease agreement with Glendale, but was unable to get the money or investors he needed in time to hit the deadline.
“We will not be able to complete our purchase of the Phoenix Coyotes today in time to meet our deadline with the City of Glendale,” Jamison said in a statement. “However, our journey to purchase the Coyotes will continue. We realize this will require additional conversations with the city of Glendale and the NHL. We still believe we can reach an agreement that satisfies everyone. We hope negotiations with the city proceed as smoothly as possible, as everyone involved wants the Coyotes to remain in Arizona.”
NHL deputy commissioner Bill Daly issued a statement Friday, saying: “We remain hopeful the Coyotes sale process will be resolved successfully and we will continue to work with the City of Glendale to move the process forward.”
Jamison had emerged as the latest and arguably best chance for the Coyotes to land an owner after more than three years of being run by the league. He reached a 20-year, $308 million lease agreement with Glendale for Jobing.com Arena in the fall, creating what was believed to be a clear path to ending the Coyotes’ up-and-down ownership saga.
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