Since Friday of last week, Jerry Reinsdorf backed out, and then Ice Edge Holdings followed suit, in backing out of efforts to purchase the Phoenix Coyotes. But, late Tuesday, the Glendale City Council voted to guarantee the NHL $25 million that will allow the Phoenix Coyotes to stay in Jobing.com Arena. As reported by the East Valley Tribune:
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.
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.
A member of the Reinsdorf group, Phoenix attorney John Kaites, said it still stands behind the agreement it made with the city in April.
The council vote was unanimous and allows Beasley to sign agreements with the NHL and “set up a Community Facilities District that would collect fees, possibly including ticket surcharges and parking charges, in the area around the arena.”
According to Scott Morrison of Hockey Night in Canada (via Twitter), NHL Deputy Commissioner Bill Daly told reporters, “the team will be not moving.” Morrison’s tweet does not make it clear whether Daly’s comments are in regard to the upcoming season, or beyond.
While both Reinsdorf and Ice Edge Holdings have backed out in recent days, Beasley said that the league is still working with bother groups. Daly told the council that the NHL is looking to close the sale of the Coyotes by the end of June, and that payments by Glendale may never be needed.
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