Report: Three groups in running to buy Coyotes
Phoenix Business Journal is reporting that three ownership groups are in the running to buy the Coyotes, at least two of them with the intention of keeping the club in Glendale.
Former San Jose Sharks executive CEO Greg Jamison is one of the three groups.
Another is Canadian businessman Jim Treliving, whose son, Brad, is the assistant general manager of the Coyotes. (Update: Treliving says he doesn’t have plans to buy the Coyotes.)
The third group is a mystery. According to the Business Journal, it’s “come late to the Coyotes table with a cash offer to buy the team. Details of what that offer might entail, who is involved with that group and what kind of commitment to the Phoenix market is involved are not yet available.”
Jamison’s bid is interesting in that it reportedly could involve the purchase of city-owned Jobing.com Arena as well as the adjacent Westgate City Center, which went into foreclosure in 2011. Perhaps owning the hockey team, arena and the retail around the rink could make financial sense, assuming there’s a good deal to be had on the arena and the mall. And considering Glendale’s budget predicament and the fact the mall has been taken over by lenders, maybe there could be.
It should be noted, however, that the lender-turned-owner says it plans to hold the property for the long-term.