Stop me if you’ve heard this before…Ice Edge’s deal to buy the Phoenix Coyotes is running into some issues. Apparently Ice Edge has fail to produce some of the financial documents required by the terms laid out by City of Glendale. According to The Arizona Republic:
The group of Canadian and American investors was required to show Glendale proof of its financing last month in order to negotiate exclusively with the city and work on a detailed lease for the Coyotes to play at city-owned Jobing.com Arena.
At the deadline, Glendale said Ice Edge had submitted “some of the required financial information.” City officials declined public records requests for more detail.
But on Monday, city spokeswoman Julie Frisoni revealed that Ice Edge has failed to submit some of the required documents, five weeks past the deadline. She would not elaborate on the missing files.
With that, the deadline of exclusivity with Ice Edge has passed that doesn’t mean negotiations can’t go forward. Ice Edge doesn’t sound worried, spokesman Robert Johnson:
Johnson said the exclusivity agreement is “nice to have” but not necessary.
“Whether it exists or not has no impact on whether we can complete the purchase of the team,” Johnson said.
Right, not so worried someone else is gonna roll in and scoop those Coyotes up, but there’s still that whole cash money issue:
“We have submitted the documents we believe meet the requirements regarding the state of our financing,” he said. “We remain confident of our ability to buy the team from the NHL.”
Johnson declined to say whether Ice Edge had secured financial backing
Oh great.
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