The most promising potential buyer of the beleaguered Phoenix Coyotes to come along since the team was thrown into bankruptcy two years ago has walked away from the process, a source told ESPN.com on Monday afternoon. Chicago businessman Matthew Hulsizer, who had hoped to have a deal in place to purchase the team from the NHL last spring, had set aside more than $100 million, but ongoing issues about a new arena lease agreement with the city of Glendale have led to Hulsizer withdrawing from the deal. Hulsizer's departure leaves the team's already tenuous future in Arizona even less certain, but NHL deputy commissioner Bill Daly said there are still suitors for the franchise. "There are ongoing negotiations," Daly said in an email to The Associated Press. "While it is unfortunate that Matt has decided to go in a different direction, the city of Glendale has chosen to pursue an alternative structure with one or more potentially interested purchasers. We do not view this as a step backwards in the process. The situation has been moving in this direction for quite some time now." Read more: http://sports.espn.go.com/nhl/news/story?id=6710294
