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
Soccer
Boxing/MMA
More
Betting Tools

 
Coyotes sale approved, hurdle remains

PHOENIX (AP) - The NHL has approved the sale of the Phoenix Coyotes to a group of Canadian-led investors, but the deal is contingent on reaching a lease agreement with the city of Glendale, two people familiar with the situation told The Associated Press.

Advertisement
The NHL agreed to sell the team to Renaissance Sports & Entertainment, a group headed by George Gosbee, Anthony LeBlanc and Daryl Jones, according to the people, who spoke Saturday on condition of anonymity because there had been no official announcement.

They said NHL commissioner Gary Bettman, deputy commissioner Bill Daly and the prospective buyers will meet with Glendale officials on Tuesday for talks on a lease.

The NHL bought the Coyotes out of U.S. Bankruptcy Court in 2009 and has tried without success to find a buyer who would keep the team in Glendale.

The approval of the Gosbee group's sale by the NHL was first reported by Fox Sports Arizona.

LeBlanc and some of this group's partners, among them Daryl Jones, were part of a previous effort to buy the team under the name Ice Edge, Inc. Gosbee, a banker and financier, is chairman, president and chief executive officer of Alberta-based AltaCorp Capital Inc.

The lease with Glendale has always been a sticking point in the sale of the team. Glendale owns Jobing.com Arena, where the Coyotes play and the city has spent tens of millions of dollars to help cover the franchise's operating losses under the NHL's nearly four-year ownership of the team. Any lease deal also likely will cost the financially-strapped city, but losing the team as an anchor tenant may cost much more.

If this effort falls through, Bettman could finally give up on his insistence on keeping the team in Arizona and agree to a move of the franchise, which has lost money since it moved to the desert from Winnipeg in 1996.

Then-owner Jerry Moyes, to the surprise of Bettman, took the team into bankruptcy in 2009, with an agreement to sell to Blackberry founder Jim Balsille, who would move the franchise to Hamilton, Ontario. But the NHL and its band of attorneys, joined by the city of Glendale, vehemently fought the plan in a court-case that dragged out through that summer, and the judge ruled that he couldn't overturn the NHL's authority to determine where its franchises are located. When other bids failed, the NHL stepped in and bought the team.

A bid by former San Jose Sharks owner Craig Jamison to buy the team was the latest attempt to fall through.

Despite the uncertainty and limitations of its ownership situation, the Coyotes had surprising success on the ice, even making it to the Western Conference finals last season. The team failed to make the playoffs in this season.

On Friday, the Coyotes announced it had reached agreement on a long-term contract with general manager Don Maloney and is working to re-sign coach Dave Tippett.

---

Follow Bob Baum at www.twitter.com/(at)Thebaumerphx

Copyright 2018 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
Williams: In the Crease - Week 16
Intertops: Vegas Stanley Cup Odds
News: Grand Salami - January
Boston honors hockey pioneer O'Ree
Bruins anthem singer Rancourt to retire
G Murray takes leave after father's death
Injuries to key scorers thin out Columbus
MORE HEADLINES
 
Why Buy Picks From VegasInsider.com
NHL Pro Hockey Handicapper Sports Picks Records
NHL Hot Streaks
22-10 Picks, 56-27 G-Plays, +2,293
5-1 +588 Run, 4-0 +538 G-Plays
3-1 L2 Days, 18-10 +944 G-Plays
3-1, +240 Last 4 Guarantees
7-2 L9 Guaranteed Plays
+1,523 NHL Guarantees TY
+922 Net Profits This Year
8-4 L12 G-Plays, 4-2 L6 Picks
20-12, +1,099 L32 Selections
NHL Pro Hockey Expert Sports Picks - Montreal Canadiens at Boston Bruins
2017 NHL SEASON PICK RECORDS
Money Leaders
Handicapper Money
Matt Fargo + 2293
ASA + 1034
Bill Marzano + 922
Underdog Leaders
Handicapper Money
ASA + 996
Bill Marzano + 545
Joe Williams + 392
Over-Under Leaders
Handicapper Money
Bruce Marshall + 1411
Stephen Nover + 1320
Scott Rickenbach + 234
Guaranteed Leaders
Handicapper Money
Matt Fargo + 2172
Kevin Rogers + 1523
ASA + 437
Favorite Leaders
Handicapper Money
Matt Fargo + 1946
Kevin Rogers + 1214
Bill Marzano + 760
Member Leaders
Handicapper Money
Doc's Sports + 1051
ASA + 715
Stephen Nover + 277
MORE PICK RECORDS
  
corner graphic
With a VI Gold Membership, you can SAVE 20% off Daily Pick packages, SAVE 10% off a Live Odds subscription, and receive access to up to 1,000 Member Plays each month!
VI Gold Membership