The City of Glendale's Jan. 31 deadline for prospective Phoenix Coyotes owner Greg Jamison to complete the purchase of the franchise came and went on Thursday night without Jamison successfully closing the deal.
This means that the city will be pulling its 20-year, $300 million-plus arena lease deal from the equation.
On Friday afternoon, the NHL released a statement from deputy commissioner Bill Daly explaining the league's stance on the current state of the franchise, via the Coyotes website:
"We remain hopeful the Coyotes sale process will be resolved successfully and we will continue to work with the City of Glendale to move the process forward."
This situation has been lingering since 2009 when the NHL officially took control of the team from Jerry Moyes.
Jamison attempted for well over a year to secure the funds to purchase the team and has yet to accomplish that goal. While Glendale mayor Jerry Weiers stated on Wednesday that he has been contacted by two groups interested in buying and keeping the team in Glendale, casual discussion has been running rampant about relocation.
With Seattle, Quebec City and Markham as potential landing spots in the future, it seems that until someone firmly keeps the Coyotes in their current home that these conversations will continue.
In a video released on the team website, C.O.O. Mike Nealy stated that the team will continue operations and is hopeful that Jamison, his financial group and the NHL will work to complete the process of purchasing the team.
He also expressed that the organization is committed to spending the long-haul in Glendale.