Ice Edge Meets Deadline to Turn Over Proof of Financing to Glendale in Sale of Phoenix Coyotes
The Phoenix Coyotes are one step closer to reaching a deal that would keep the team in the Valley.
That is, prevent the Yotes from moving to Winnipeg, which they would probably do if the league can't find a buyer willing to keep them in Arizona by the end of the year.
Ice Edge Holdings, the only remaining potential buyer that would keep the team in Arizona, has turned over proof of financing to the Glendale City Council before the Friday deadline set by the city.
This isn't a guarantee that the Howlers will remain in the Valley, far from it, but it's a good indicator that -- most importantly -- Ice Edge has the money needed to buy the team and is serious about keeping them in Arizona.
The city of Glendale owns Jobing.com Arena, the home of the Coyotes, and the paperwork submitted by Ice Edge is part of lease negotiations for the arena that would ensure that it remains the home of the Coyotes.
However, lurking in the shadows and waiting to swoop in and steal the team away to Canada (yes, Canadians, we're aware the Coyotes were once the Winnipeg Jets, we just don't care) is Toronto Billionaire David Thomson and his Winnipeg-based group, True North Sports and Entertainment.
NHL Commissioner Gary Bettman confirmed last month that Thomson expressed interest in buying the team and probably would move it to Winnipeg.
Bettman's given the city until the end of the year to find a buyer that would keep the Yotes in Arizona.
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