Links - Coyotes close to being sold to Ice Edgesocialcomme - North River Minor Hockey Association

Coyotes close to being sold to Ice Edgesocialcommentssocialcommentssocialcommentssocialcomments News Sports Entertainment Radio TV My Region Member Centre Login Sign UpHalifax (Shearwater) Change City8c Tomorrow1c Flurries or rain showers Hockey Headlines Scoreboard Standings Stats NHL Schedule Teams Players Hockey Night in Canada Highlights Fantasy Pool FIFA World Cup Vancouver Now Football Headlines CFL Scoreboard CFL Standings CFL Stats CFL Teams NFL Scoreboard NFL Standings NFL Stats NFL Teams NFL Players Video Alpine Skiing Curling Figure Skating Basketball NBA Scoreboard Standings Stats Teams Players Basketball News Feed Baseball MLB Scoreboard Standings Stats Teams Players Baseball News Feed Soccer MLS Scoreboard MLS Standings International Stats Soccer News Feed Amateur Sports Golf Tennis Auto Racing Story Tools EMAIL PRINT Text Size S M L XL REPORT TYPO SEND YOUR FEEDBACK Coyotes close to being sold to Ice EdgeLast Updated Friday December 11 2009 831 PM ET The Associated Press The Ice Edge investment group has signed a letter of intent to purchase the financially floundering Phoenix Coyotes from the NHL with a longterm commitment to keep the team in ArizonaThe league and Ice Edge announced the agreement in brief statements on FridayNHL deputy commissioner Bill Daly said much remains to be done before the sale closes but the league pledged to work closely with Ice Edge to bring the sale to conclusion as expeditiously as possibleIce Edge chief executive officer Anthony LeBlanc said Ice Edge has committed to keep the Coyotes in Glendale for the remaining term of the original leaseThere are 26 years left on the Coyotes lease to play at Jobingcom Arena which was built for the hockey team by the City of GlendaleIn an email exchange with The Associated Press LeBlanc said there would be no out clause that would allow Ice Edge to break the leaseWe believe in this team and the demographics of the Valley he said a reference to the sprawling Phoenix metropolitan areaGlendale issued a statement praising the initial agreement and looked forward to the sale closingThe transfer of ownership and possession to Ice Edge Holdings is a major and final step in establishing the longterm presence of hockey in Glendale the city saidThe league bought the team in US Bankruptcy Court for about $140 million US after two other potential bidders including Ice Edge withdrew largely because they could not reach an agreement on a reworked lease with the cityDeal worth an expected $150 millionThe Ice Edge deal is expected to approach $150 million the amount it had said the group would be willing to spendThe NHL board of governors could act on the ownership proposal at its meeting next weekIce Edge is a group of American and Canadian investors with five majority owners LeBlanc Daryl Jones John Breslow Keith McCullough and Todd JordanLeBlanc is ...