An ownership group led by Suns Partner Barry Kemp "has
an offer on the table to purchase" the Coyotes from Owner
Richard Burke for an estimated $80-$100M, according to Tim
Tyers of the ARIZONA REPUBLIC. Whether Burke decides to
accept the offer "depends on a number of factors, including
the outcome of a May 18 vote in Scottsdale related to a new
arena and whether he is willing to continue to sustain large
losses as the single owner of the franchise." Though Burke
has recently been looking for a partner in the franchise, he
denied that he is interested in selling the team outright.
Burke, on Kemp's offer: "It was a verbal proposal and I've
turned that offer down. It's gone no further than that."
But several sources associated with the NBA and the NHL
reported that the sale "will be done by June if voters side
against the formation of a stadium district in Scottsdale."
Kemp: "Yes, I am heading a group, mostly comprised of people
from the entertainment world, that has expressed interest in
purchasing the Coyotes, if for some reason the new arena in
Scottsdale does not go forward." Kemp would be interested
in keeping the team in America West Arena, and sources say
he would try to work out a "friendlier" lease agreement with
arena operator Arena Management (ARIZONA REPUBLIC, 3/18).
