Sale to keep Coyotes in Arizona almost finalized
Deal awaits final approval of city
Published On: Feb 21 2012 11:56:32 AM CST
Updated On: Feb 21 2012 05:45:09 PM CST
The National Hockey League is close to finalizing a sale of the Phoenix Coyotes franchise to a group led by former San Jose Sharks CEO Greg Jamison, according to Mike Sunnucks of the Phoenix Business Journal.
The NHL is trying to keep the sale price at $170 million, but are willing to include rebates and a fund to help cover the team's financial losses to keep the team playing in the Phoenix market.
The league bought the Coyotes out of Chapter 11 bankruptcy in 2009 for $140 million.
The deal has to go through final approvals by the city of Glendale, which owns Jobing.com Arena where the Coyotes currently play.
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SportsDirect
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