The Greg Jamison-fronted group trying to buy the Phoenix Coyotes is a little short on cash.
Like, $20 million short.
According to the Phoenix Business Journal, Jamison's group is $20 million shy of what will be needed to buy the Coyotes and keep the NHL team in Glendale. The cash shortage isn't a deal-breaker, according to the PBJ's sources, but it could drag out the three-year saga to find a buyer for the Coyotes.
Jamison is trying to talk some new investors and partners into handing over the money needed to complete the transaction with the NHL, the current owner of the Phoenix franchise. The league wants $170 million for the team after buying it for $140 million in 2009, when the owner went into Chapter 11 bankruptcy.
NHL deputy director Bill daly told the PBJ there was nothing new to report on the sale of the Coyotes but the league was confident it would get done.