Hulsizer reportedly pulls Coyotes bid

Matthew Hulsizer attends a game between the Red Wings and Coyotes at Jobing.com Arena in Glendale,...

Matthew Hulsizer attends a game between the Red Wings and Coyotes at Jobing.com Arena in Glendale, Ariz., Oct. 16, 2010. (CHRISTIAN PETERSEN/Getty Images/AFP)

QMI Agency

, Last Updated: 1:49 AM ET

Prospective NHL owner Matthew Hulsizer has reportedly pulled his bid to purchase the Phoenix Coyotes.

Hulsizer is still interested in buying an NHL franchise, but is no longer pursuing the Coyotes, according to the Phoenix Business Journal who cited an unnamed official familiar with the situation.

Ice Edge Holdings, the ownership group headed by Hulsizer, is not interested in going through another long process in an attempt to purchase the team, according to the official.

Hulsizer has been pursuing the Coyotes since last year. The city of Glendale, Ariz., approved a $197 million bond and arena management deal this past December to help Ice Edge buy the team. But the deal was never completed due to legal opposition from the Goldwater Institute, a taxpayer watchdog group.

The NHL has owned the Coyotes since 2009 after it bought the team out of Chapter 11 bankruptcy for $140 million.

Glendale paid $25 million to the league earlier this year to cover the Coyotes’ and Jobing.com Arena’s costs and losses. The city pledged another $25 million to the NHL and Coyotes to cover losses for the upcoming season, ensuring the team stays in the city for the 2011-12 campaign.

The Coyotes reportedly lost $37 million last season.


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