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Glendale might give NHL $25 million to keep Coyotes in Arizona

Earlier tonight I shared a report that Ice Edge Holdings might not actually be all the way out of negotiations to own the Phoenix Coyotes. The saga continues tonight and this time around, there’s some more (potentially) good news for fans hoping the team stays put. Here’s the story from the Associated Press.

The Glendale city council is considering guaranteeing the NHL up to $25 million to keep the Phoenix Coyotes in Arena for the 2010-2011 season.

But city manager Ed Beasley and NHL deputy commissioner Bill Daly told the council that the sale of the Coyotes is expected to close by the end of June and that the payments may never be needed.

One other important nugget is that while Jerry Reinsdorf’s offer might be out of the running, the Chicago White Sox owner isn’t out of the potential owner picture altogether. TSN’s Bob McKenzie backed up this sentiment in this Tweet.

To little surprise, this matter is still murky to say the least. We’ll keep you updated as news filters in, even if the see-saw nature of the news almost makes the situation seem like a dog (or a Coyote?) chasing its own tail.