Prospective Phoenix Coyotes owner Greg Jamison has until Thursday to complete his purchase of the franchise, a deadline that the Glendale city council seems uncertain he'll be able to meet, according to Paul Goblin of AZ Central.
The city council had voted in the fall on a new lucrative deal with Jamison that would pay the new owner $15 million a year over 20 years to operate and manage Jobing.com arena. This deal, which was met skepticism by many, was necessary to help Jamison secure further funding and investors to purchase the Coyotes the franchise. The offer from the city expires on Jan. 31 and the current city council, with four new members on the seven-person council, is unlikely to extend the same lucrative deal should this one expire.
"I told Jamison that as opposed as I was to the deal - I thought that the city didn't get a very good deal out of it - the fact is that the council made that decision," said new Glendale Mayor Jerry Weiers. "The deal that was made said that he has until the 31st to put it together. I'll honor that, but I also told him that I wouldn't honor it one second past that."
Mayor Weiers also stated he has received no details from Jamison as to why the sale has been delayed.
With the deal with Glendale in place it was expected the sale of the franchise would quickly follow. Some felt the delay was due to the NHL lockout yet with the season back on there have been no further signs that a sale is actually imminent, leading to speculation that Jamison is having trouble securing enough investors for the purchase.
Phoenix Coyotes executives still expect a deal to get done by the Jan. 31 deadline. The Coyotes have opened the season 1-4-0 after a trip to the Western Conference Finals last season.