SBD/Closing Bell

Prospective Coyotes Buyers Reportedly Have Financial Challenges

Sources said that some financing for Renaissance Sports & Entertainment's purchase of the Coyotes "has either not been finalized or has dropped out of the deal." A local business exec said that the prospective owners "are meeting with financiers and the NHL on the matter." It is "not clear how serious the financing issues may be" for RS&E and its investors. Previous reports indicate the deal includes a $120M loan from Fortress Investment Group and an $85M loan from the NHL (BIZJOURNALS.com, 7/31).
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