Phoenix Coyotes sale back on track as Greg Jamison secures investors

puckhead

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Just heard that GJ could complete purchase of the team from NHL within 48hours. I hope it's correct, but I have heard it before, just not from this person. No links, but I will give this source; someone familiar with the Coyotes situation. :D
 

puckhead

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So much for that. Now that he's ready, Glendale wants to move the goalposts? Kill me now. :bang:

"We have the funds together," he said. "We're ready to go forward, and I'm ready to sign the deal that was negotiated earlier in the summer."


But in a Monday closed-door session, the Glendale City Council directed administrators not to sign the deal with Jamison until he buys the team and amendments can be made to some terms of the deal.​



 

coyoteshockeyfan

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Doan gave his first interview since the offseason began. From azcentral:

- Doan says a deal between him and the Coyotes is done. All that he's waiting on to put pen to paper is Greg Jamison acquiring the team.

- Doan confirms what's been speculated for awhile now, that Jamison has secured the money to purchase the Coyotes and the money is waiting in escrow.

That's huge.
 

MigratingOsprey

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So ................

anyone else a little concerned that they are a week away from the lease agreement expiring and things are this quiet

I have been pretty patient and willing to let things play out - especially with the legal challenges, lockout, etc .... however, things are up and running again and the new council has taken a more hostile pose

I know he's trying to buy it from the league - so they are moving from a facilitator role to trying to secure the best deal they can and jamison is moving from the role of working with the league to securing the best deal he can ........ it's just another negotiation and the NHL is a pretty cold negotiating group ...... but tick-tock folks

it would have been reassuring to have some conversation about an agreement in place - but just silence

things have gone way to far to have it fall apart now
 

Kel Varnsen

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Maybe silence is a good sign.

...he said, hopefully, but fully prepared for the whole thing to collapse again.
 

MigratingOsprey

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about where I am .... it seems like they've had the most success in getting things done at the times where it's been the most silent ....... but at this point you'd really like to see an agreement met and a BOG vote scheduled ... it's been about 2 months since the new lease agreement, a month since the referendum failed and about 2 weeks since the CBA
 

Stronso

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Keep on trying to tell myself "No news is good news" but that's not working so well.

It would be typical of this entire process to have it fall apart now.

I was hoping that before the puck dropped v Chicago that Jamison and Bettman would announce the deal was done. No such luck.

Tick tock tick tock

Sent from my addled brain
 

BillsCarnage

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MigratingOsprey

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he also said he'd definitely make an announcement "one way or the other"

depending on who you read, what their source is and probably most importantly what they think their readership/viewership wants to hear this whole thing still sounds very uncertain with about a day left

on a potential side note - potential related note and another example of how much of a mess this whole thing is the Sharks have announced that their majority owner has purchased the shares of two minority owners - Kevin Compton & Stratton Sclavos

here is an older article from the CBA negotiations where both of these guys were commenting on the sharks model and how they were willing to eat some losses out of the labor of love

http://www.csnbayarea.com/blog/kevin-kurz/should-sharks-owners-be-allowed-profit

obvious ties to jamison - the announcement of the deal seems like it would fit if they were jumping into another ownership group

although, their announcement today doesn't really seem like it


“It’s been a great 11 years being involved with the San Jose Sharks and the NHL but we feel this is the right time for us to step away and focus on other avenues. Although we are no longer involved with the ownership group of the organization, we remain among the team’s biggest fans and will continue to be ardent supporters of the franchise. We want to thank all Sharks fans for their years of unbridled passion and continued support of the team.”

a pretty big change in tone from this summer with odd timing ...... could be nothing, could be something

which just leads to more uncertainty to anyone even beginning to attempt to follow this thing ... fatigue for me widely set in a couple years ago, but with the deadline looming it's hard to not get re-engaged
 

MigratingOsprey

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and now from ESPN



Former San Jose Sharks CEO Greg Jamison, the main suitor for the Phoenix Coyotes for the past year, cannot produce the capital needed to purchase the team from the NHL and as a result a Jan. 31 deadline to maintain a critical lease agreement with the City of Glendale will pass without a deal being completed, multiple sources have told ESPN.com.

A separate group of investors is prepared to step into the void created by Jamison's failure to produce the money he repeatedly insisted he would deliver to complete the deal, but the question is whether Glendale officials will agree to extend the lease agreement to a new group given that it was Jamison who negotiated the terms of the highly contentious lease deal.

http://espn.go.com/nhl/story/_/id/8...oduce-capital-purcahse-team-according-sources

So if there is a 2nd group of investors that has the money and they know that it's unlikely glendale is going to do much in way of a favorable lease agreement and they want to keep the team in Phoenix ...... why couldn't they have those investors pretty much fall into the jamison deal with him as a figurehead?

this whole thing is just nuts
 
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Kel Varnsen

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Another white knight, huh?

The book that somebody eventually writes on this story is going to be 20 volumes thick.
 

BillsCarnage

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We all know any "backup" suitor is going to move them at this point. I'm curious who this mystery group is, but it seems like for every potential owner who would try to keep them here, there are a couple to buy and move.

I'm guessing it's the Seattle group. With any relocation, none of the potential locations have viable arenas yet.
 
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