Despite a fantasic year on the ice, the Phoenix Coyotes are struggling to find a buyer to keep the team in Glendale.
Jerry Reinsdorf, owner of the Chicago White Sox and Chicago Bulls, was expected to purchase the team sometime this offseason and keep the team in the desert, but that deal has fallen through and now the city of Glendale is forced to look else where to keep the team.
The City has turned to Ice Edge Holdings, a group that has been trying to buy the team for a while. The move comes less than a month after backroom politicking led to the city council rejecting Ice Edge’s proposal in favor of Reinsdorf’s.
Although there have been questions about Ice Edge’s ability to come up with funds for the purchase price, believed to be between $140 and $150 million, sources have said funding is in place and will be secured as soon as the exclusivity documents were filed with the city of Glendale.
