GLENDALE, AZ (CelebrityAccess MediaWire) — Talks between Glendale officials and Ice Edge holdings over the purchase of the Phoenix Coyotes hockey team broke down late Monday afternoon, according to Ice Edge Attorney Grant Woods.
Ice Edge Holdings reportedly had been hoping for an exclusivity agreement, shutting other potential bidders, such as Chicago-based Jerry Reinsdorf, out of the deal. Glendale officials didn’t agree to this demand by Monday’s deadline, the Toronto Sun reported.
“Ice Edge is confirming reports that talks have broken down with COG (City of Glendale),” Ice Edge’s Daryl Jones wrote on Twitter, saying Ice Edge was given “little choice” but to back away. “Talks have broken off for a number of reasons.”
The future remains uncertain for the Coyotes, who filed for bankruptcy and were taken over by the NHL in 2009. A failure to sell the team soon may mean another season on the NHL’s books for the Coyotes with the city of Glendale subsidizing the team’s losses with taxpayer money. – CelebrityAccess Staff Writers