Thursday, November 25, 2010

Coyotes Still Looking For A Mid-December Deal

((HT: Arizona Republic, Sanders))

One of the prospective owners in the Phoenix Coyotes wanna-be group that would bring stability to the Desert has spoken about where the deal is...

According to them, it's "all up to Glendale."

George Peinado, visiting Glendale to kick the tires, is managing director at Chicago private equity firm Madison Dearborn Partners and lives about a mile from Matthew Hulsizer- the primary in this case. The group is still looking for an asking price of about US$160-million, and has sent some ideas back to the NHL for a look-over and tweak.

Peinado admitted to Sanders that the "business side needs some help." The group, if approved, would leave the hockey side of things alone.

From Sanders:

Glendale could call a special meeting with 24 hours' notice to vote on a lease, or at a regularly scheduled public meeting. The next one is Dec. 14.

Peinado said the lease agreement expected next month with Glendale will be a final draft, unlike agreements the city negotiated before. Reinsdorf and Ice Edge both presented outlines of lease terms to the City Council for a vote, intending to work out final details afterward.

More when we know more...

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