Plenty of chatter about the Phoenix Coyotes on the series of tubes:
Late Tuesday, ESPN reported that prospective buyer Greg Jamison had secured the financing that would allow him to close on the $170 million purchase. (This would seem to confirm last week’s article in the Arizona Republic that actually quoted Jamison as saying, “We have the funds together.”)
Also according to ESPN (and Phoenix Business Journal), Ice Edge Holdings is among Jamison’s investors.
Ice Edge, of course, tried to buy the club out of bankruptcy before the NHL purchased it in 2009. The same plucky group made an attempt to purchase the Coyotes from the league in 2010.
The fly in the ointment – oh yes, there’s always a fly in the ointment – could be the City of Glendale’s desire to tweak the 20-year, $324 million lease at Jobing.com Arena with Jamison and company.
Phoenix Business Journal reports that Jamison isn’t keen on any changes to deal, but the “city is skittish over the fate of a $125 million, five-year sales tax increase that could be reversed” by voters in November.
That sale tax increase is intended in part to fund the arena-management fee. If it’s reversed, the city’s got a problem.