Tag: Phoenix Coyotes sale

Gary Bettman

Highlights from Gary Bettman’s “over-hyped” update on Coyotes sale


In the grand scheme of things, the best Phoenix Coyotes news from Monday night is that they have a chance to advance to the Western Conference finals with a Game 5 win against the Nashville Predators. NHL commissioner Gary Bettman and potential new owner Greg Jamison addressed the media in a press conference that Bettman deemed “over-hyped.”

Even so, let’s note the highlights from what Bettman called “an update on the situation, not a formal announcement.”

First here’s this quote via Dave Vest.

“We have an understanding with Greg Jamison that we are going to proceed with he and his group to reach a formal agreement on the purchase and sale of the Coyotes,” Bettman said.

James Mirtle and others provide Bettman’s “over-hyped” comment.

“I think what was over-hyped was our mere presence [in Phoenix],” Bettman said. “We don’t have a formal update to make.”

Here are some other details gathered from the press conference itself, which streamed live on the Phoenix Coyotes’ official site.

  • Jamison still needs to finish up a deal that the City of Glendale can vote on. Generally speaking, Jamison is in the process of working with the city.
  • Jamison didn’t want to name members of his ownership group for fear of causing a “distraction.”

In other words, Jamison represents the hopeful “light at the end of the tunnel” but the league, team and city have more traveling to do. When asked about his progress with Glendale, Jamison said that he hopes it will be a matter of “weeks, not months” but the same might be said for this process. Despite plenty of early optimism, there are still no concrete answers yet.

NHL to announce Greg Jamison has a deal to buy the Coyotes

Greg Jamison

We’ve been down this road before so we know how quickly things can change.

According to a report out of the Phoenix Business Journal, NHL commissioner Gary Bettman will be in Glendale today to announce the league has reached a tentative deal to sell the Phoenix Coyotes to Greg Jamison. As you know by now, Jamison is the former San Jose Sharks CEO and he’s looking to close a deal to keep the team in Arizona.

Mike Sunnucks of the Phoenix Business Journal explains that if this is the case, things are still far from being completed.

It also sets the stage for a city of Glendale vote on payments to the Jamison group to facilitate the sale and help the group absorb some short-term financial losses. The Coyotes lose $20 million to $25 million per season. The city will pay new Coyotes owners to run Jobing.com Arena.

The City of Glendale has a City Council meeting slated for Tuesday, however a vote on the deal is not on the agenda and does not appear likely to be added to the docket. The Coyotes have been in ownership limbo since 2009 and if this deal is approved and gets the OK from the Goldwater Institute (meaning they won’t try to intervene with litigation), the league’s long fight to keep the team in Glendale will have paid off.

Update (10:15 a.m. ET): Kevin Allen of USA Today confirms an announcement will be made in Arizona today.

PHT Morning Skate: Where the Kings are really happy they never traded Dustin Brown

Dustin Brown

PHT’s Morning Skate takes a look around the world of hockey to see what’s happening and what we’ll be talking about around the NHL world and beyond.

Imagine where the L.A. Kings would be without Dustin Brown. They might be sitting at home already. (OC Register)

St. Louis is left to wonder if having Jaroslav Halak to fall back on might’ve helped. Unless he was scoring goals, the answer is probably “no.” (Post-Dispatch)

After avoiding punishment for hitting Dan Girardi, Mike Zeisberger says Alex Ovechkin is on a short leash. (Toronto Sun)

The Flyers are having a hard time supporting Ilya Bryzgalov. That’s one way to look at it. (CSNPhilly.com)

Claude Giroux says he’s not a dirty player, but that might not help prevent him from being suspended. (Toronto Sun)

Meanwhile, Peter DeBoer is not happy at all about Giroux’s hit on Dainius Zubrus. (CSNPhilly.com)

The Devils are waiting it out to see if any action will be taken. (The Star-Ledger)

Is there finally a deal done to keep the Coyotes in Arizona with Greg Jamison? FINALLY? We’ll see. (Phoenix Business Journal)

Big change could be on the way for the Bruins this summer with so many free agents on the roster. (CSNNE.com)

Jack Todd of the Montreal Gazette wants to see the Canadiens hire a former Hab to coach the team. His name? Jacques Lemaire. (Montreal Gazette)

Peter Regin is re-signed in Ottawa and… It might be best to keep him low on the depth chart. (Senators Extra)

Here’s your semi-regular hopeful update on the Coyotes ownership situation

Nashville Predators v Phoenix Coyotes - Game One

Lisa Halverstadt of The Arizona Republic reports the City of Glendale is crafting a plan to find a way to help Jamison to finalize a deal to purchase the Coyotes from the NHL.

Glendale’s chief negotiator told the council last week that any deal with a new Coyotes owner will require millions of taxpayer dollars each year. Keeping the team in Glendale means shouldering the cost of managing Jobing.com Arena, where the team plays, City Manager Ed Beasley said.

To sum up the details for you, here goes nothing:

– The fee to operate the arena will be $17 million next year. The City of Glendale currently owes the NHL $25 million to cover for losses incurred by the team staying in town without an owner and operating the arena this season.

– That $17 million will go to Jamison so his group can operate Jobing.com Arena.

Should this part of a potential deal be true, the ever-watchful eye of the Goldwater Institute may have something to say about seeing that much money being used to help land the team. The City of Glendale has a $35 million budget shortfall this year much in part thanks to the money they owe the NHL already.

As far as how serious Jamison is about this, he’s reportedly still searching for investors to help purchase the team but the City of Glendale has put all their support behind Jamison to get a deal done. There’s no deadline for the NHL to have a deal worked out, but the sooner the better to keep the wolves from Seattle and Quebec City at bay that would be interested in buying the team.

Potential Coyotes buyer cautiously optimistic about landing the franchise

Greg Jamison

While the Phoenix Coyotes look to advance to the second round of the playoffs past the Chicago Blackhawks, the talks to try and sell the team continue to roll slowly along. Potential buyer, former Sharks vice president, Greg Jamison is doing his best to keep things calm regarding the situation.

Jamison tells Lisa Halverstadt of the Arizona Republic that things are continuing to be worked on and he’s doing his best to make sure the Coyotes stay in the desert.

“We’re working at it,” Jamison told The Republic just moments before the Coyotes game on Saturday. “There’s been progress made. We are optimistic that this can get done, but this is not a guarantee that this can get done.”

Keeping things cool is for the best as the future of the team in the desert is perhaps at its most unclear state since moving to Glendale. With talk of the NHL not being eager to let this situation fester much longer to the City of Glendale’s budgetary problems potentially getting in the way, the team is under the gun to get sold if they’re going to stick around.

When comparing Jamison to past interested buyers, taking the low-profile way about things might be for the best as it keeps attention away from the team concerning the situation. If the Coyotes move on in the playoffs, they might owe Jamison a debt of gratitude for keeping the vultures away.