Mystery buyer courting Coyotes?

The Phoenix Coyotes' ownership saga continues with the appearance of a new mystery buyer....

The Phoenix Coyotes' ownership saga continues with the appearance of a new mystery buyer. (REUTERS/Joshua Lott)

QMI Agency

, Last Updated: 8:48 PM ET

Another day and yet another twist in the ownership saga of the Phoenix Coyotes.

According to the Phoenix Business Journal, a mystery buyer has stepped forward as the leading candidate to buy the beleaguered franchise from the National Hockey League.

Details on the negotiations are limited but the undisclosed buyer is reportedly leading a new ownership group that wants to purchase the organization and keep it in the city of Glendale. The NHL has owned the Coyotes since October, when it bought the franchise via Chapter 11 bankruptcy proceedings.

Despite the latest development, Ice Edge Holdings LLC remains hopeful it still can be part of a new ownership group.

"We understand another party that we have become acquainted with is in advanced negotiations with Glendale and an announcement could happen soon," Ice Edge CEO Keith McCullough said in a statement released Monday. "If this occurs, we expect to continue to be involved with the Coyotes as an adviser for the foreseeable future."

The NHL has set a Dec. 31 deadline for the Coyotes to find a new owner that would keep the organization in Arizona. If that deadline passes the NHL will likely consider bids that involve the team relocating to another city.

In unrelated news, Ice Edge held a press conference in Thunder Bay, Ont., Monday to announce that it is trying to bring an East Coast Hockey League team to the city.

"Ice Edge has concurrently been focusing on several opportunities in professional sports during the past year," McCullough said in a statement. "We are here in Thunder Bay because we are beginning the official process of working with the ECHL in regards to bringing an expansion team (here)."

"An announcement could happen soon. If this occurs, we expect to continue to be involved with the Coyotes as an adviser for the foreseeable future."


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