The NHL is nearing a deal to sell the Phoenix Coyotes, after several years of trying, according to a Fox Sports Arizona report.
Renaissance Sports and Entertainment — headed by George Gosbee and Anthony LeBlanc — is concentrated on turning the team around financially and keeping it in Glendale. The report said that a purchase agreement could be in place within the next week.
The plan, according to a source, is focused on increasing ticket sales, season tickets, corporate sponsorships, suites, realigned partnerships and proper expense management in order to break-even status within the early years of ownership, a source told Fox Sports. The team lost between $10 and $15 million last season.
The potential ownership group would also be helped by additional stipulations in the new collective bargaining agreement that allows teams in emerging markets some of the revenue sharing restrictions placed on them in the previous plans.
This isn’t the first time an agreement was close. During last year’s Stanley Cup playoffs, the league announced it was working with former San Jose Sharks CEO Greg Jamison to complete a deal, but it fell through.