- David Shoalts of the Globe and Mail: Would someone PLEASE put an end to this ….. Shoalts is reporting that the Jerry Reinsdorf deal to buy the Phoenix Coyotes has hit a snag the city of Glendale, and they have gone back to the Ice Edge Group, who they earlier rejected. Weeks ago the city council accepted Reinsdorf’s bid 6-0 and rejected the Ice Edge bid 5-1. Reinsdorf’s bid called for subsidies for the team, which is almost $47 million in bonds and other revenues. The Ice Edge Group was approached again last week by the city, though the Reinsdorf deal still could go through. If a local buyer can’t be found June 30th, the league could sell the team to someone that would be able to move them to a different city. A report from ESPN is saying that if both Reinsdorf’s and the Ice Edge Groups bid falls through, the team could be sold to Canadian billionaire David Thompson, who would move the team back to Winnipeg.
- Scott Burnside of ESPN: Sources have told ESPN that the Reinsdorf deal is dead and the city is back talking to the Ice Edge Group to keep the team in Phoenix. The City of Glendale is filing documents this morning accepting a new lease deal with Ice Edge, and will be working with them exclusively. The league hasn’t agreed to sell the team to the Ice Edge Group just yet, and there are some conditions the city must guarantee to the NHL, with one being covering the operating losses next year. If the city doesn’t agree with the NHL’s conditions, and the deal with Ice Edge falls through, the league could turn to Canadian billionaire David Thompson. There is apparently a purchase agreement already drawn up for Thompson to buy the Coyotes. Thompson would then move the Coyotes back to Winnipeg. The Ice Edge’s proposal was originally shot down by Glendale, even though they had agreed to not move the team for the next 24 years (time remaining on lease), Reinsdorf’s deal would have allowed him to move/sell the team after 5 years. Where the Ice Edge group was getting their funds to buy the team has been called into question in the past, but there is word now that they have it secured.