SBD/Issue 24/Franchises

Ice Edge Holdings Waiting To Buy Coyotes Once NHL Gets Control

Ice Edge Holdings Has Reached Agreement In
Principle For Lease Of Arena
Ice Edge Holdings is "ready to buy the Phoenix Coyotes once the NHL completes its side of the transaction, but everything is on hold until the league finishes sparring in court" with Coyotes Owner Jerry Moyes, according to David Shoalts of the GLOBE & MAIL. Ice Edge has "managed to reach an agreement in principle" on a lease for Arena with the city of Glendale. Ice Edge Holdings COO Daryl Jones yesterday said that the arena lease "will not include any direct subsidies from the city," but there "will be ways for the team and the city to share revenue." Jones "declined to go into detail because the group does not want to make its ideas public yet." Shoalts notes an "interesting addition to the group of businessmen which makes up Ice Edge is John Breslow," a Coyotes investor who "once expressed an interest in making his own bid for the team before dropping out." Bulls and White Sox Chair Jerry Reinsdorf reportedly is "negotiating again with city officials for an arena lease in order to buy the club," but sources contend that there is "no sign he is back in the running." Ice Edge "still plans to play five regular-season games a year in Saskatoon if it buys the club." Jones said that the NHL "has not agreed to the plan, but it has not rejected it, either." Jones added that Ice Edge is "keeping a light in the window" for Coyotes Managing General Partner and former coach Wayne Gretzky. Jones "played down the notion" that CFL Toronto Argonauts co-Owners Howard Sokolowski and David Cynamon, "who have spoken to Ice Edge and other NHL owners about buying a team, have joined the group of eight businessmen" (GLOBE & MAIL, 10/15).

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