The sale of the Phoenix Coyotes to a group led by Greg Jamison is closer to reality after Jamison secured the funding needed to buy the team from the NHL, according to a report from ESPN.
With the financing in place, Jamison moves one step closer to purchasing the team from the league for $170 million. In addition to securing the financing, ESPN's report also states the investor group and the City of Glendale are expected to resolve any lease agreement issues by the end of September.
The deal and the resolved lease with the city will put to bed the long standing relocation rumors. The new ownership group reportedly has a deal with Glendale for a 20-year lease of the Jobing.com Arena. While the other investors have yet to be identified, some are reportedly part of the Ice Edge Group, a group which attempted to purchase the team earlier this summer.
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