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One of the groups hoping to save NHL hockey in Phoenix is threatening to pull out of the deal.
Connecticut-based Ice Edge Holdings told Canwest News Service the latest offer from the City of Glendale goes back on some things that were previously agreed on.
“The city may leave us no choice,” Ice Edge CEO Daryl Jones said, calling Glendale’s dealings on a potential lease for Jobing.com Arena a “dangerous game of poker.”
“At the end of the day, Ice Edge doesn’t have to own this team, or any team,” Jones said. “While we have become very passionate about supporting the fine hockey fans of Phoenix, a bad deal is a bad deal, and no amount of brinkmanship will lead us into signing a bad deal.”
Ice Edge has a letter of intent to purchase the Coyotes from the NHL, which bought the franchise out of bankruptcy court in October.
The other group in the talks is headed by Jerry Reinsdorf, owner of baseball’s Chicago White Sox and baseketball’s Chicago Bulls.
Reinsdorf’s proposal reportedly calls for an out clause allowing him escape the arena lease and sell the team if it doesn’t become profitable within five or six years. He would first try to find a buyer who’d keep the team in Phoenix, and if that failed he’d be free to sell to an owner in another city.
Glendale politicians have set a Friday deadline for bidders to sign a memorandum of understanding.
They could vote on the issue next week, after which the NHL would have to place its stamp of approval on the deal.
