Jerry Reinsdorf officially pulls out of running to buy Coyotes

1-reinsdorf.jpg

Things seemed to be too quiet out of Arizona lately concerning the Coyotes so it’s high time something happened. Word came down early Tuesday morning that Jerry Reinsdorf’s group to buy the Coyotes, Glendale Hockey, has officially and totally pulled out of negotiations for the team.

In the statement, the Reinsdorf group, known as Glendale Hockey, called the decision to pull out “a difficult one because of our respect for the mayor, the council and management of the city.”

“Ultimately we came to the conclusion it was time to move on,” Reinsdorf said. “We were happy to serve a critical role for the City to keep the team in Glendale and we look forward to assisting the city in the future on other projects both as a company and individually.”

The statement concluded with the Reinsdorf group wishing “Glendale, its citizens and the fans of the Coyotes the best.”

This is all likely just window dressing for the Glendale city council which will be holding a private vote on Tuesday evening to approve Ice Edge Holdings for a Memorandum of Understanding (MOU) to give them exclusive negotiating rights for the Coyotes. Reinsdorf and his group getting out of the way is just a mere formality to pass the torch to them. The downside here, however, is that it leaves Ice Edge Holdings as the only group left available to buy the team. If you’d like to read the details of the MOU between Glendale and Ice Edge, feel free to scope it out here (PDF). One side fun part to the MOU is that if Ice Edge wins out, the team will then be known as the Arizona Coyotes. Nothing screams “success” like emulating the NFL’s Cardinals.

Should Ice Edge Holdings be the group to buy the team and do so by June 30th, they’ll keep the City of Glendale off the hook for $25 million dollars the city has set aside to make sure the NHL, the Coyotes current owners, aren’t on the hook for the team’s financial losses. After all, what’s worse than one owner losing $25 million? 29 other owners chipping in to cover losing $25 million.

The doom and gloom aspect to all this now is that should Glendale, the NHL and Ice Edge not find a way to come to some agreement, this could put an end to the Coyotes run in Arizona as the NHL has now made no bones about looking for another owner who is willing to move the team. David Thomson and his True North group are the most talked about potential buyers as they wish to move the team back to Winnipeg.

Scroll Down For:

    Latest way the Wild lost? Killed by penalty kill

    Minnesota Wild goalie Devan Dubnyk sits on the ice after giving up a goal to St. Louis Blues' Jori Lehtera, of Finland, during the second period of an NHL hockey game Saturday, Feb. 6, 2016, in St. Louis. (AP Photo/Jeff Roberson)
    AP
    2 Comments

    It’s said that variety is the spice of life, yet it seems to be the spite of the Minnesota Wild.

    As head coach Mike Yeo said, this struggling team appears to find a new way to lose virtually every night. That couldn’t have happened once again on Saturday, when they fell 4-1 to the St. Louis Blues, could it?

    Actually …

    If you ask Jarret Stoll, the latest problem was the penalty kill.

    Honestly, Stoll may have been too specific, likely trying to throw his own unit under the bus. Instead, it might be more accurate to say that Minnesota’s special teams let them down.

    Indeed, the Wild struggled to limit the Blues’ power play, which went an unsettling 3-for-6. That said, Minnesota had a chance to trade blows with St. Louis. Instead, the Wild managed one power-play goal on seven opportunities.

    The silver lining is that the Wild believe that they showed more fight than this fragile bunch had been generating before.

    On the other hand, with Jonas Brodin on IR and Jared Spurgeon apparently hurt, that silver lining may not be so easy to see.

    Statement in Blackhawks’ blowout of Stars? Coach Q says they’re even

    7 Comments

    Worry (if you’re pulling for the Stars) or gloat (if you’re a Blackhawks fan) all you want, but the bottom line is that the Central Division’s No.1 spot is clearly in Chicago’s control after Saturday night.

    The Blackhawks earned a decisive 5-1 win against the Dallas Stars, giving them a five-point standings lead over Dallas for the Central Division lead.

    You may feel like that’s more of the same, but consider this: things would look a lot closer if Dallas won or gained points, as they hold three games in hand on the ‘Hawks.

    At least one Blackhawks player admits this game means a little more than your average W.

    Indeed, while Antti Niemi was pulled from the game and Kari Lehtonen faced his own struggles in Dallas’ net, Corey Crawford ranked as one of the big reasons why the score was so lopsided.

    (Artem Anisimov had a big say in that, too.)

    As a wise coach with 1,000+ games of experience would do, Joel Quenneville didn’t go overboard in assessing the victory.

    Was this a statement game? Who knows, but a certain statement is that the Blackhawks now have a five-point standings lead.

    Brad Marchand wins it … on a penalty shot … in overtime

    11 Comments

    Looking at the standings, beating the Buffalo Sabres was pretty important for the Boston Bruins. The Atlantic Division’s run for spots appears particularly congested out East.

    Of all the Bruins to get a chance to win it all, the team might have wanted Brad Marchand to have that opportunity. He’s on pace to destroy his previous career-highs for scoring, and Marchand’s been particularly hot lately.

    Either way, Marchand came up big indeed, scoring the rare overtime game-winner on a penalty shot. Check out the drama below:

    That can be a big extra point and ROW (regulation/overtime win) when the regular season is finished.

    Note: Many believe that Marchand should not have received a penalty shot on the play.

    Crosby kills the Cats: Penguins end Panthers’ winning streak

    Pittsburgh Penguins' Sidney Crosby (87) collides with Florida Panthers' Connor Brickley (86) during the second period of an NHL hockey game in Pittsburgh, Tuesday, Oct. 20, 2015. (AP Photo/Gene J. Puskar)
    AP
    3 Comments

    For quite some time, it looked like the Florida Panthers would keep the Pittsburgh Penguins under wraps.

    Florida nursed a 1-0 lead into a 2-0 margin almost halfway through the third period, looking to win its sixth consecutive game. That looked great … and then Sidney Crosby + Kris Letang happened.

    Let’s put it this way: this GIF of Crosby being frustrated is amusing, yet it doesn’t exactly tell the story of Saturday’s 3-2 overtime win for the Penguins:

    Instead, Crosby grabbed his 900th point assisting on a Letang goal, and finished the night with 902 by collecting the game-tying goal and grabbing a helper on Letang’s overtime game-winner.

    Crosby crossing that barrier is indeed special, even if it prompts “What if?” questions about No. 87’s health.

    The resurgence of Crosby and Letang already played a big role in the Penguins going from disjointed and frustrating to sneaky and scary, so it  shouldn’t be that surprising to see them play so well. Doing so in such brisk order is a little bewildering, however.