Phoenix Coyotes Sale: Greg Jamison Speaks

As Greg Jamison continues to push forward in his purchasing of the the Phoenix Coyotes, the city of Glendale wants to retool the proposed 20-year, $324 million deal, according to Arizona Central.

Officials in the city of Glendale say the deal is on hold until Jamison holds up his end of the agreement by purchasing the Coyotes from the NHL. They already approved the leasing of Jobing.com Arena back in June, though the city was expected to get Jamison an updated draft on the proposal on Wednesday night.

Fox 10 Phoenix reporter Jude LaCava recently caught up with Jamison, asking if all the time and effort to buy the team is worth it. Here is what Jamison had to say:

I think it's been worth the effort. I respect the city of Glendale greatly because they committed to the arena, and commited to keeping the team there....I think there is a tremendous upside there. I believe it's a great community, it's a great place for NHL hockey to do well...I really believe in the long run that it's very much worth the effort. I hope that not only can we get it done, I hope we can continue to grow what's already there, and build on that foundation and take it to the next level.

Jamison also cited numerous "political situations" to LaCava that have held up the deal. One major issue stems from the Arizona Court of Appeals ruling last week that an initiative to reverse a sales-tax increase, including next year's budgeted $17 million arena-management fee for Jamison's purchase, should appear on the November ballot.

There's also the NHL lockout to take into account, as well. Luckily the NHL extended the lease agreement to keep Gelndale's arena under league management for another month, which hopefully will give both sides time to hammer out an accord.

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