Another Coyotes Sale Blows Up

It now appears that one way or another, the Phoenix Coyotes are going to be playing games in Canada next season.

That could occur if the Ice Edge Holdings group, now back in the game, is able to purchase the team, as that group is still believed to want to hold at least five games a season in Saskatoon and the rest in Arizona.

Or, the entire kit and kaboodle could yet end up in Winnipeg with the rebirth of the Jets. It's not impossible Manitoba could welcome the team it lost as early as later this month.

Wild. Crazy. But nothing seems too bizarre for this oddball situation any more.

ESPN.com was reporting late Thursday night that the agreement between the City of Glendale and Chicago White Sox owner Jerry Reinsdorf was dead, and that Glendale, which had voted against Ice Edge and in favour of Reinsdorf several weeks ago, had reached out to Ice Edge again. Even the NHL, however, has questioned the ability of Ice Edge to put the funding together to buy the team, and ESPN.com reported that the NHL would place a number of conditions on the sale, including Glendale having to agree to cover any operating losses next season.

If Ice Edge can't strike a deal, the ESPN.com report indicated that Canadian billionaire David Thomson has a purchase agreement ready to sign that would see the team shift operations to Winnipeg.

Winnipeg mayor Sam Katz said it's "just a matter of time" before the city gets an NHL team. Even if it's not the Coyotes, Katz said this week he believes a team will be in Winnipeg within three years.

The impressive first round playoff performance by the Coyotes that saw huge crowds attend the club's games against the Detroit Red Wings apparently weren't enough to keep Reinsdorf in the game, or to make his proposed deal acceptable. NHL commissioner Gary Bettman said as recently as Monday that he still hoped a deal could be struck to keep the team in Phoenix, but that he had no deadline on when a purchase could be completed.

The NHL operated the team this season after defeating an attempt by Waterloo billionaire Jim Balsillie to buy the club out of bankruptcy and move it to Hamilton. Ice Edge, meanwhile, struck a letter of agreement with the league last fall to buy the team, but couldn't close the deal.

If the team is to move, that decision would likely have to be made by next month at the latest. It's not clear how Glendale would react if the team was sold by the NHL to non-Phoenix interests since a lease still exists for the club to operate out of the Glendale arena. The NHL, however, has maintained for months that if a buyer can't be found, it would be prepared to break the lease and move the team.

Comments

[hoofheartz]

I wonder why there are no buyers willing to move the team to the Southern Ontario area (Hamilton). Surely its a possibility, after all, MLSE has no veto power, do they Gary?

[Andy Frank]

Every little dictator finds his Waterloo, and Phoenix is Gary's

[Bruce Allan]

Only a fool would consider keeping the team in Arizona.......Opps I forgot. Gary Bettman is a fool.

[DANIEL]

The whole thing is so silly, they already had a buyer who had money and they passed, because they didn't like him for whatever reason. He seemed to be a good guy to me and he hasn't given up, for some unknown reason they just don't like Hamilton or Balsillie and I suspect it's because of the Leafs. Waterloo billionaire Jim Balsillie just didn't fit into the "Old boys club" and he made them look bad and how dare someone make the NHL look bad. I think Jim Balsillie should give up and start his own league, what's he got to lose, they will never give him a franchise and who would want to be in a "club" that turned down his offer several times which was very reasonable unless they have another agenda. Just come out and tell us the truth, NHL.

Daniel ... Toronto
http://bit.ly/Daniel2010

[Victor]

Every day the NHL and the City of Glendale has to wipe the egg off its face for not accepting the Jim Basillie offer. Ice edge has no money and Reinsdorf wants to pillage Arizona to pay for the yotes and JB had cold hard cash. I wonder how the owners feel now about the bankruptcy proceedings. Cost a lot of money to protect, kept the team and that cost a lot of money to run, and they are no closer than a year ago. I would love to know how much money the NHL will lose because they said no to JB. $240Mil at the very least. Good job Gary Betman, I bet the owners are happy with you today!

[Ryan W (Ottawa)]

So the sweetheart deal for Jerry is falling through because he can't finagle a thievery deal from Glendale, and there is a backup deal in place to sell the team to another billionaire and move the team to Canada (Winnipeg).

But the deal that would have made EVERYONE money from selling to Jim was completely unacceptable since you can't buy a team with the notion of moving it. Bettman will certainly have some explaining and revisionist history to perform here.

If Glendale loses the team anyway, how can all of the other owners that would have stood to profit massively from Balsillie still support Bettman when all they got for their troubles was bankrolling a team for one more year that still couldn't draw fans, and will cost them money for absolutely no reason rather than having millions in the bank?

[Simon S-G]

If this team moves to Canada it's only right that they return to Winnipeg. I'd love to see hockey work and thrive in the desert, it's a great game and it's too bad for those who do support it in the Phoenix area that they will lose it. Unfortunately they aren't the majority.
How ironic is this though: the last Jets playoff series before they moved was against Detroit, and perhaps the last Coyotes series before returning to Winnipeg is also against Detroit.

[wes guidry]

It seems this denial of Jim Balsillie's offer had nothing to do with moving the team to Canada and everything to do with invading the Leafs (undeserved) turf. Shame on you all for cheating the fans.

[shuda_gonetobed]

This story is a sports writers' dream. It just keeps giving and giving and giving. Will the owners ever tire of this? Will any of this mess ever stick to Betteman?

[Matt]

The sale of the Coyotes to a buyer who wants almost $50 million of Arizona taxpayers' money per year in concessions is in trouble? I am shocked! Shocked and hurt!

The most logical solution would be to move it to a hockey hotbed like Las Vegas or Kansas City. Am I right??

[jerry jordan]

bettman must be pulling his hair out. he might have to put the franchise in canada. this goes against his wanting to push franchises in his beloved usa.coyotes lost at least 50 million dollars. when are the rest of the owners going to wake up and get rid of bettman who has done nothing but hijack the league all in the name of the usa?

[Ryan]

Never bit the hand that feeds you... and by feeds you I mean the hand that provided you and just about everyone in management a Smartphone.

[Artless Ross]

Mr. Bettman has to figure out the way to allow the team to move to Canada in the manner that leaves the least amount of egg on his face.
The crowds always come out in bigger numbers for playoff hockey, whether its both sets of grandparents showing up to watch little Billy's peewee team in the house league finals, or the previously crowd-less Coyotes going up against the legendary Red Wings in the NHL first round. Next regular season, they will be back to their usual 4,000 per game if they stay in the desert.

[Matt Fry]

There was. Jim Balsillie. But since he tried to strong-arm Bettman to do it, I don't think that's going to happen anymore,.. at least not with him.

[Marko]

i can see it now...

triumphant return to winnipeg for the team wearing these amazing jerseys

http://www.puckdrawn.com/photos/canadian_division/jets_presentation.html

[Flying Fidoo]

What a soap opera. You can miss a years worth of episodes and still pick it up where it left off. Well done Gary but I'm not sure who you're fooling.

[sardonic1]

How dumb does Gary Bettman look now? Basing pure business decisions on a personal quest/mandate is just plain foolhardy. At some point there has to be a realistic prospect of at least breaking even and I'm not convinced that will ever happen in Phoenix.

[Jeff]

The biggest obstacle to a team entering Canada and that includes the GTA is Mr Bettman.
If any semblance of reality exists on the NHL Board of Governors, it is incumbent that they realize the futility of Arizona.
Alternatives in Canada are both financially and in fan support head and shoulders above any other site.
End of discussion!

[R.Smith]

Would love to see another team in Canada, yes even Winnipeg. Only concern being the on going cost of fielding a winner. Calgary and Edmonton have shown flashes but when their draftees get good their gone for more lucrative venues. A strong dollar helps here but the fan base is also crucial.

[Wes]

It's time we give up on the NHL. They want nothing to do with Canada even if it means losing dollars or going bankrupt. Canadians need to wait until Bettman is replaced or deceased.

[James]

I could see Atlanta moving to Quebec City as well. I don't think we'll see a second team in Southern Ontario anytime soon however.

[Winnipegger]

Southern ON expansion fees too big to ignore... Bring them home....

[Andrew Paris]

Anyone who goes and watches a Coyotes game in Canada will just be filling there pockets to stay in Pheniox.
Boycott all American lossing teams that play in Canada.

[2nd Guess]

Move the Coyotes? Didn't Bettman say all last summer that "We don't run out on cities?"

Funny how the tune changes when you're the one stuck with the bills.

[Smack]

I love you Phoenix Coyotes story. You just give, give, give!