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Super Rich Dude Pledges $25 Million To Glendale

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New updates have come out regarding the uncertain status of the Phoenix Coyotes. According to a report out from the Arizona Republic, a potential mystery buyer had pledged to cover the $25 million the NHL charged to Glendale to cover operating losses and expenses.

It is widely believed that the mystery buyer is Chicago businessman Matthew Hulsizer. Hulsizer was a spectator at the Coyotes' rookie game earlier in the week.

"As the city and the prospective buyer work toward finalizing documents, in a show of good faith, the prospective buyer has deposited $25 million dollars into escrow," Glendale's statement read.

Glendale officials would not name the potential buyer, but the city has been negotiating for weeks with Matthew Hulsizer, a Chicago investor.

"This shows the city has met the NHL deadline for finding a qualified buyer, who will keep the team here, a requirement to release the City's $25 million currently in escrow," the statement said. "Glendale and the NHL will continue to move forward to work with the prospective buyer to facilitate a purchase of the team that will keep the Coyotes in Glendale for the long term."