The potential sale of the Phoenix Coyotes has reportedly fallen through.
Scott Burnside of ESPN.com reports that Greg Jamison, previous CEO for the San Jose Sharks, has not produced enough financial means with which the purchase could have been made. As a result of this failure on Jamison's part, a lease with the City of Glendale is set to expire on Jan. 31.
A separate group of investors is prepared to step into the void created by Jamison's failure to produce the money he repeatedly insisted he would deliver to complete the deal, but the question is whether Glendale officials will agree to extend the lease agreement to a new group given that it was Jamison who negotiated the terms of the highly contentious lease deal.
This doesn't mean the Coyotes' future in Arizona is over completely. Jamison's problems have, though, made it more difficult for both the team and city to ensure the franchise stays where it is.
Coyotes Sale Reportedly in Question
Bleacher Report | Jan 30