Friday, May 7, 2010

Coyotes Sale: Friday Update

NHL deputy commissioner Bill Daly has acknowledged publicly Ice Edge Holdings has resumed talks with the city of Glendale over a lease agreement.

Daly wouldn't comment on reports that Reinsdorf's deal had fallen through or that the NHL was preparing to possibly move the team back to Winnipeg if they couldn't find an owner to keep the team in Arizona.

Rebekah Sanders of the Arizona Republic guesses the City of Glendale may approve an amended Memorandum of Understanding at their next meeting Tuesday. Sanders also says a provision in Ice Edge's original deal- that parking dollars go to the team- has now been okayed.

David Shoalts, in the Friday edition of the Globe and Mail, allows that the Reinsdorf deal was somewhat contingent on US$47-million in revenue from the "tax district" he wanted approved and that Ice Edge's deal/financing may have only as little as US$20-million for a down payment.

Ice Edge, apparently, also thinks they can get a financing deal in place WHEN they have have the deal in place with the City of Glendale... and not before.

The National Hockey League has until June 30 to be patient with anyone who wants to keep a team in Arizona. Then, they can sell to whomever they please...

TSN's Darren Dreger says the league will make their decision ((or have it made for them)) in the next few weeks. He also says that there is a concern that the City of Glendale is using Ice Edge in the hopes that Reinsdorf will alter his deal- making it less based on city subsidies- and get Reinsdorf back to the table.

So much for a summer vacation...

No comments: