It wouldn’t be summer until we’ve had a buyer approved for the Phoenix Coyotes.
TSN’s Darren Dreger reports the NHL has confirmed they have an agreement with George Gosbee’s Renaissance Sports & Entertainment group to purchase the ownerless franchise.
Does that mean the now four-year old struggle to sell the formerly bankrupt franchise is at an end? No.
There are still many issues left to be figured out yet including a lease agreement for Jobing.com Arena with the City of Glendale. That part of the arrangement has been the major sticking point for previous buyers including Jerry Reinsdorf, Ice Edge Holdings, and Matthew Hulsizer. Greg Jamison had a deal worked out with the city only to fall short of coming up with the money to purchase the team.
We told you here last night the NHL was sharing an ownership plan with the city on Tuesday and Gosbee’s group will be the ones to likely take part in that. The cost of what it takes to run the arena figures to be a huge issue as the city is strapped for cash and cannot afford to pay out in a big way to do that. If there’s traction there, the sale may actually happen.
The Glendale City Council will soon be voting on a proposal that will see the city fork out $325 million in all to potential Coyotes owner Greg Jamison. Regional watchdog group, the Goldwater Institute, has been involved in the team’s dealings in the past and they’ve got some concerns this time around as well.
Goldwater Institute president and CEO Darcy Olsen sent a letter to the mayor of Glendale and the city council to address their concerns with the potential deal. To sum it up, they don’t want to see the taxpayers in Glendale end up over a barrel thanks to the deal.
Goldwater’s concerns hover around the possibility this deal can bring into effect the “gift clause” that helped kill Matthew Hulsizer’s bid to buy the team. They’re also asking about the cost parking rights, arena use at Jobing.com Arena, as well as the speed all of this is happening.
Goldwater isn’t alone in their worries, but it’s clear the financial issues the City of Glendale have run into recently are wearing on the minds of more than a few locals.
While the Phoenix Coyotes remain owner-free in the desert, a former Coyotes star might be helping them stay in the desert for the foreseeable future.
According to Lisa Halverstadt of the Arizona Republic, Jeremy Roenick has been approached by prospective Coyotes buyer Greg Jamison to be part of his team to purchase the league-owned franchise. Halverstadt reports that Roenick wants what just about everyone else interested in buying the team has wanted in the past.
Roenick, a Scottsdale resident, said he aims for deal that includes the struggling Westgate City Center, which developers built a decade ago in hopes of drawing crowds with sports, shopping and entertainment.
Nothing is easy with how things have gone with the Coyotes and those that have wanted to buy them.
Jim Balsillie went about it the wrong way trying to sweep them out of the desert like they were the Baltimore Colts of hockey. Jerry Reinsdorf dawdled never got an agreement worked out. Ice Edge Holdings were never able to get something completed, and Matthew Hulsizer was blocked by the Goldwater Institute from completing his purchase agreement.
A team of Jamison and Roenick could be enough to get things worked out if the particulars are right, but Roenick tells the Arizona Republic that there’s no time frame on a deal.
If Roenick can help keep the team in Arizona he’ll be as big of a hero to fans in Glendale and Phoenix as Mario Lemieux was for keeping the Penguins in Pittsburgh by buying them. As we know all too well with the Coyotes, getting it done might take a long time if it ever gets done at all. They may have to work fast, however, as time isn’t on their side to keep the team in the desert.