June 6, 2012
Jamison lacks cash to buy Coyotes: Report
By QMI Agency
Greg Jamison, the prospective owner of the Phoenix Coyotes, has not raised enough money to buy the team, sources have told Forbes.
Jamison is having a tough time getting the cash together to complete the $170-million purchase because investors doubt the potential to make a profit -- even with a $15-million-a-year taxpayer subsidy.
City council will vote Friday on a deal in which Glendale, Ariz., would sign a 20-year management and lease deal and pay Jamison $15 million annually.