Ice Edge deal on thin ice?

QMI Agency

, Last Updated: 11:45 PM ET

Negotiations over the future of the Phoenix Coyotes have hit a snag, according to an Arizona newspaper.

An Arizona Republic article published Monday claims the group seeking to buy the NHL team — Ice Edge Holdings — has not complied with terms to provide the City of Glendale with financial documentation required as part of exclusive negotiations between the city and the prospective ownership group to hammer out a lease deal for the city-owned Jobing.com Arena.

Ice Edge has been granted the right to negotiate exclusively with the city as it attempts to purchase the team from the league, which bought the Coyotes out of bankruptcy last year.

The Arizona Republic report cited City of Glendale spokeswoman Julie Frisoni as saying Monday that Ice Edge failed more than five weeks ago to meet a deadline to submit some of the proof of its financing and the group had lost the right to negotiate exclusively as a result.

The 60-day period of exclusivity Ice Edge was granted to negotiate with the city is slated to end next Friday.

When contacted by QMI Agency Tuesday, Frisoni would not comment on the matter and said negotiations were continuing as planned with the deadline still in place.

When reached via e-mail on Tuesday, Ice Edge chief operating officer Daryl Jones said there are “no comments at this time.”

Glendale city council voted in May to cover up to $25 million in team losses if a buyer isn’t found in time for next season.

The NHL has given Glendale until the end of the year to complete an arena deal with a new owner.

The league’s deputy commissioner Bill Daly denied rumours the Ice Edge deal was in trouble.

“I would say there is no change in the status of the negotiations with Ice Edge,” Daly said in an e-mail to the QMI Agency on Tuesday. “There is nothing new to report.”

Daly also reiterated the Coyotes will play in Glendale in 2010-11.


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