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NHL, Jamison Pursue Purchase Agreement for Coyotes

Monday, 05.7.2012 / 7:04 PM MT / Features
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NHL, Jamison Pursue Purchase Agreement for Coyotes

GLENDALE -- NHL Commissioner Gary Bettman on Monday night announced that the League has an understanding with a group headed by former San Jose Sharks CEO Greg Jamison to pursue a purchase agreement of the Coyotes.

Jamison’s group must formalize the purchase agreement with the League and gain approval from the Board of Governors, while also gaining approval on a lease agreement for Arena with the City of Glendale before the sale can be completed.

Greg Jamison and Gary Bettman on Monday. Photo by Norm Hall

Bettman said he hopes to have the process complete “in weeks, not months.”

"Basically the status of things is, we have an understanding with Greg Jamison that we are going to proceed with he and his group to reach a formal agreement for the purchase and sale of the Coyotes," Bettman said. "While Greg is working on that with us he also going to be simultaneously looking to conclude an agreement with the city of Glendale. If all things track as we hope they will in the not too distant future, although I won’t put an exact time frame on it, we will be in a position, subject to board approval and the council approval obviously to have the sale of the Coyotes finalized and effectuated. Basically that’s what we did today and that’s why we’re here and we’re looking forward to the game."

► Click here to watch Monday's press conference with Bettman and Jamison.

The Coyotes were put into bankruptcy by an ownership group led by Jerry Moyes in May 2009, and the League purchased the team in October of that year.

Jamison joined the Sharks in 1993 after a stint as vice president of business operations with the Indiana Pacers of the NBA. Before that, he was the director of marketing for the NBA’s Dallas Mavericks from 1980-87.

Greg Jamison. Photo by Getty Images.

He served as the president and CEO of Silicon Valley Sports & Entertainment after being promoted to the position in 1996. Jamison led a group of 11 investors in purchasing the Sharks from original owner George Gund in 2002. Jamison was the team’s representative on the League’s Board of Governors until October 2011 when he began to pursue purchasing the Coyotes.

"We have a group that is excited about going forward as new owners of the Phoenix Coyotes," Jamison said. "We have a group that cares deeply about the National Hockey League and cares deeply about hockey, they care deeply about youth hockey, and they look forward to being a part of this team and in helping to help this team continue to be successful."

He added, "It’s been some interesting times. Some ups and some downs over the years, but the future we believe is very bright... We’ve had numerous meetings; I think we’re on a good track on both sides, both at the NHL and at the city. Gary is right, these things always take time.”

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