Greg Jamison and his investment group will close the purchase of the Phoenix Coyotes franchise later this week, according to a report by Mike Sunnucks of the Phoenix Business Journal on Tuesday afternoon.
Jamison had until Jan. 31 to purchase the team or else the 20-year, $300 million arena lease signed by the City of Glendale to operate Jobing.com arena would expire.
Citing sources familiar with the deal, Sunnucks reports that two individuals informed him that the deal would be closed on Wednesday, while another official informed him that the deal would close on Thursday. Regardless, if these reports are accurate, the Coyotes will remain in Glendale and the three-year ownership situation will finally be stabilized.
Jamison has attempted to purchase the team from the NHL since 2011 and faced a series of tumultuous events that continually delayed closing the deal. Having already received the NHL's blessing as a prospective owner, the arena deal appeared to be the final hurdle.
However, some have speculated that Jamison struggled to secure the necessary funds to actually purchase the team.
As of Tuesday morning, Jamison had made it clear that he would be addressing the situation in an announcement later this week.