dso67
06-08-2010, 02:50 PM
http://www.tsn.ca/nhl/story/?id=323935
PHOENIX -- A group headed Jerry Reinsdorf has withdrawn from efforts to purchase the Phoenix Coyotes, a move that leaves Ice Edge Holdings as the last potential buyer that would keep the NHL team in Arizona.
Reinsdorf, owner of the Chicago White Sox and Chicago Bulls, issued a statement Monday night saying "it was time to move on."
The Reinsdorf group once was the front-runner to buy the team but had fallen out of favour in recent weeks while Glendale officials worked out a memorandum of understanding with Ice Edge, a group of Canadian and American investors.
The Glendale city council is to vote Tuesday night on that memorandum, which gives Ice Edge exclusive negotiating rights for 60 days.
A new lease for the Coyotes to play at Jobing.com Arena is a necessary step before Ice Edge can proceed to try to purchase the team from the NHL.
PHOENIX -- A group headed Jerry Reinsdorf has withdrawn from efforts to purchase the Phoenix Coyotes, a move that leaves Ice Edge Holdings as the last potential buyer that would keep the NHL team in Arizona.
Reinsdorf, owner of the Chicago White Sox and Chicago Bulls, issued a statement Monday night saying "it was time to move on."
The Reinsdorf group once was the front-runner to buy the team but had fallen out of favour in recent weeks while Glendale officials worked out a memorandum of understanding with Ice Edge, a group of Canadian and American investors.
The Glendale city council is to vote Tuesday night on that memorandum, which gives Ice Edge exclusive negotiating rights for 60 days.
A new lease for the Coyotes to play at Jobing.com Arena is a necessary step before Ice Edge can proceed to try to purchase the team from the NHL.