Coyotes sale: NHL provides $85 million to hopeful buyer, according to report

Christian Petersen

The Phoenix Coyotes saga continues with a new hopeful buyer. According to a report, the NHL is willing to aide the process with a substantial loan with favorable repayment terms.

The NHL and Renaissance Sports & Entertainment are nearing an agreement on the sale of the Phoenix Coyotes organization for $170 million, according to Mike Ozanian of Forbes. The deal is pending the group's ability to come to terms on a lease agreement with the city of Glendale for Arena.

For more on this story visit: Coyotes blog Five for Howling

Citing a source, Ozanian reports that Renaissance Sports will receive an $85 million loan from the NHL in order to help with the purchase. The group, headed by George Gosbee, will also receive $120 million from the Fortress Investment Group, which will be repaid by the fee Glendale will be asked to provide as part of the arena lease. Renaissance will provide $45 million.

The excess $80 million of that equation will be used as operating capital.

In addition, Gosbee and his group will not be required to begin repaying the NHL's loan for five years. Fortress also has the option of swapping its loan for equity in the franchise, which could result in a 20 percent equity stake. However, this deal still requires the city of Glendale to sign off on a new lease agreement. In the past, this has been a stumbling block in negotiations.

More in the NHL:

Complete Stanley Cup Playoffs coverage

Celebrating hockey’s ‘anti-heroes’

Our playoff predictions

The best of our hockey network

Log In Sign Up

Log In Sign Up

Forgot password?

We'll email you a reset link.

If you signed up using a 3rd party account like Facebook or Twitter, please login with it instead.

Forgot password?

Try another email?

Almost done,

By becoming a registered user, you are also agreeing to our Terms and confirming that you have read our Privacy Policy.


You must be a member of to participate.

We have our own Community Guidelines at You should read them.


You must be a member of to participate.

We have our own Community Guidelines at You should read them.




Choose an available username to complete sign up.

In order to provide our users with a better overall experience, we ask for more information from Facebook when using it to login so that we can learn more about our audience and provide you with the best possible experience. We do not store specific user data and the sharing of it is not required to login with Facebook.