VegasInsider.com
VI Mobile Scores and Betting OddsVI Mobile Scores and Betting Odds Be Social
Home
NFL
NBA
NHL
MLB
NCAA FB
NCAA BK
Golf
Auto
Horses
Boxing/MMA
Fantasy Sports
More
Betting Tools

 
Jamison a step closer to buying Coyotes

GLENDALE, Ariz. (AP) - The Phoenix Coyotes have taken a major step toward securing an owner.

Advertisement
All that's left is one last hurdle.

Glendale's City Council voted late Tuesday night in favor of a reworked, $320 million arena management deal with Greg Jamison, clearing the way for the former San Jose Sharks CEO to complete his purchase of the team from the NHL.

``The affirmative vote by the Glendale City Council is an important step toward the realization of a positive ownership resolution for the Coyotes and their fans,'' NHL Deputy Commissioner Bill Daly said in a statement Wednesday. ``The National Hockey League looks forward to working with Greg Jamison to complete the sale process as expeditiously as possible.''

The City Council approved a 20-year, $324 million deal for Jobing.com Arena in June, but, faced with growing financial constraints, city leaders sought to renegotiate the deal.

The council voted 4-2 in favor of the new deal, which cuts back Glendale's payments in the first five years, gives Jamison incentives to bring in more non-hockey events and issues penalties if there is an NHL lockout. The current lockout is in its 11th week and has wiped out more than 400 regular-season games, along with the NHL All-Star game.

The new arena deal requires Jamison to complete his purchase of the team from the NHL by Jan. 21, 2013, a deadline he was confident would be met.

``I know they (city leaders) want closure very badly and so do I and the rest of the group,'' Jamison said after the meeting Tuesday night. ``We're confident we can get there.''

It's been a long wait.

The Coyotes have been run by the NHL the past three seasons, since former owner Jerry Moyes took the team into bankruptcy in 2009. The team still managed to be successful on the ice despite financial limitations, reaching the playoffs all three years, including the franchise's first trip to the Western Conference finals in 2011-12.

The Coyotes have had several potential suitors in that time and a deal with Chicago businessman Matthew Hulsizer appeared to be in place last year before the conservative watchdog group Goldwater Institute killed it by warning potential bond buyers to stay away from the Glendale offering because of a looming lawsuit.

Goldwater tried to stop the deal with Jamison, but the City Council voted in favor of the lease agreement during the summer and Glendale voters in November's election upheld a 0.7 percent sales tax increase designed to help the city's finances.

With the council agreeing to the reworked arena agreement, Jamison must now complete his deal with the NHL and gain approval from the league's board of governors.

``We're here, we're excited about some NHL hockey, we're looking forward to the lockout being over and we're also looking forward to the future,'' Jamison said. ``We believe strongly not only in the product, we believe strongly in the community, we believe strongly in the Valley and we think basically this a good place to be, a good place to have a team and the future looks bright.''

Copyright 2017 by STATS LLC and Associated Press.
Any commercial use or distribution without the express written
consent of STATS LLC and Associated Press is strictly prohibited.

  
HEADLINES
News: 2017-18 Season Win Totals
News: Vegas Golden Knights Odds
Markov leaves Habs to sign in KHL
Islanders F Jones agrees to deal
Sharks hire Dave Barr as assistant
Coyotes add MacLean, Allen to staff
Bruins sign Spooner, avoid arbitration
Avalanche sign F Grimaldi, D Graham
New Jersey Devils re-sign 5 forwards
MORE HEADLINES
 
Why Buy Picks From VegasInsider.com
NHL Pro Hockey Handicapper Sports Picks Records
VegasInsider.com Gold Membership
2016 NHL SEASON PICK RECORDS
Money Leaders
Handicapper Money
Bill Marzano + 6094
Bruce Marshall + 5708
Stephen Nover + 1083
Underdog Leaders
Handicapper Money
Bruce Marshall + 2199
Bill Marzano + 1384
Stephen Nover + 1329
Over-Under Leaders
Handicapper Money
Scott Rickenbach + 927
Bruce Marshall + 630
Doc's Sports + 127
Guaranteed Leaders
Handicapper Money
Bruce Marshall + 3721
Scott Rickenbach + 3715
Bill Marzano + 2697
Favorite Leaders
Handicapper Money
Kevin Rogers + 720
Bill Marzano + 534
ASA + 95
Member Leaders
Handicapper Money
Bruce Marshall + 2602
Bill Marzano + 492
Gary Bart + 314
MORE PICK RECORDS
  
corner graphic
With a VI Gold Membership, you can SAVE 10% off a Live Odds subscription, SAVE 20% off Daily Pick packages, and receive access to up to 1,000 Member Plays each month!
VI Gold Membership