Outgoing Coyotes Owner Richard Burke, who reached a
deal in March to sell the team to AZ real estate developer
Steve Ellman for $87M, gave Ellman another week to make his
first payment of $10M for the team, according to Tyers &
Scutari of the ARIZONA REPUBLIC. The deal initially had a
May 17 deadline for Ellman to make the payment, but Burke
pushed the deadline back to May 24, noting the extension
"comes without any strings or financial perks." Burke:
"This is an unsolicited effort on my part to ensure that
this transaction goes forward and the Coyotes have a home
and a new arena can be built. I don't have any reasons to
believe whatsoever that they are not going to make this
happen." Ellman has only paid a non-refundable $1M franchise
fee to the NHL so far (ARIZONA REPUBLIC, 5/17). Meanwhile,
Wayne Gretzky, who was in KS yesterday for a promotional
appearance for aircraft company Raytheon, discussed Ellman's
offer to join the Coyotes investment group: "I don't know
whether the timing is right now, but the situation is
incredible. I have a little cold feet but my wife (Janet)
says jump in with both of them" (WICHITA EAGLE, 5/17).
