NHL: Coyotes sale may close by June

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  1. truebluefan

    truebluefan Administrator Staff Member Administrator

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    The Glendale City Council late Tuesday guaranteed the NHL up to $25 million to keep the Phoenix Coyotes in Jobing.com Arena for the 2010-2011 season.

    But city manager Ed Beasley and NHL deputy commissioner Bill Daly both told the council that the sale of the Coyotes is still expected to close by the end of June and the payments may never be needed.

    Daly said in an e-mail to ESPN.com that the league "will proceed immediately to attempt ... to complete an ownership transition in time for the 2010-11 NHL season."

    "The City Council of Glendale demonstrated strong and unequivocal support for the Coyotes' future in Glendale," Daly told ESPN.com.

    Beasley also said that both Ice Edge Holdings and a group headed by Chicago sports mogul Jerry Reinsdorf are still talking about buying the Phoenix Coyotes. Reports have had Reinsdorf's group dropping out in recent days.

    http://sports.espn.go.com/nhl/news/story?id=5181543
     

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