Coyotes future in Arizona in doubt; Ice Edge backs out
Ice Edge Holdings was seemingly the last chance for the City of Glendale to keep the Coyotes in Arizona and tonight we learn that that talks have broken down between the city and Ice Edge, leaving the possibility of the team staying in Arizona in serious jeopardy. An agreement was necessary to be in place, as the Glendale city council would be voting on a proposal tomorrow. With no agreement in place, there will be no vote.
Ice Edge was hoping to agree to terms with the city today, including one of exclusivity, and when neither side could come to an agreement the company backed away from the negotiating table.
It appears one major hold up in this mess is the NHL’s desire for insurance from the city that any deal would be able to cover any losses by the team for next season. With talks with Jerry Reinsdorf falling apart, Glendale then turned at the last moment back to Ice Edge, hoping to sign an agreement of exclusivity in time for tomorrow’s vote.
With neither Ice Edge nor Jerry Reinsdorf in place to purchase the franchise it’s more than likely that the NHL will now step in and take steps to finalize a sale to David Thompson, one which would then move the franchise back to Winnipeg.