Glendale mayor: No extension to be offered in Phoenix Coyotes deal
The clock is ticking on the potential deal between the City of Glendale and prospective Phoenix Coyotes owner Greg Jamison.
Less than 72 hours before the deadline for Jamison to buy the team from the National Hockey League, Glendale Mayor Jerry Weiers said there will be no extension for the proposed 20-year deal that would pay Jamison to manage the city-owned Jobing.com Arena.
Weiers wouldn’t speculate on where the matter stands but said the city gave Jamison until Thursday and not “one second longer.”
“We are not there yet,” he said. “If he doesn’t put the deal together, we won’t go down that road again with him. Obviously, if we can keep the Coyotes here under different circumstances and without that same deal it is certainly something I would like to push forward with.”
However, Arizona Sports 620’s Paul Calvisi said the Coyotes deal is expected to be completed by Wednesday.
Update on #Coyotes sale to Greg Jamison:Multiple sources say “deal should be done by tomorrow” …a day ahead of the deadline.
— Paul Calvisi (@PaulCalvisi) January 29, 2013
The deal guarantees Jamison about $300 million over the next 20 years, should the purchase of the team be completed.