Former San Jose Chief Misses Phoenix Coyotes Takeover Deadline

Former San Jose Sharks CEO, Greg Jamison has missed his opportunity to purchase the Phoenix Coyotes in order to receive the arena-management deal negotiated with the Glendale City Council.

In order to receive the arena-management deal, which would pay him $15 million a year to run Jobing.com Arena, the home of the Coyotes, Jamison had to purchase the team from the League by 11:59 p.m. local time Thursday night.

“We will not be able to complete our purchase of the Phoenix Coyotes today in time to meet our deadline with the city of Glendale,” Jamison said in a statement. “However, our journey to purchase the Coyotes will continue. We realize this will require additional conversations with the city of Glendale and the NHL. We still believe we can reach an agreement that satisfies everyone. We hope negotiations with the city proceed as smoothly as possible, as everyone involved wants the Coyotes to remain in Arizona.”

Because Jamison missed that deadline, the agreed-upon deal for the arena-management rights is no longer available and a new deal will have to be negotiated. The deadline was a contractual provision existing between Glendale and Jamison that is not directly tied to the potential sale of the team.

Glendale mayor Jerry Weiers told the Arizona Republic on Thursday that a local attorney, representing the Jamison group, approached the mayor about the possibility of an extension. Weiers told the newspaper he has no intention of extending the deadline.

Jamison said he still hopes to buy the team and keep it in Arizona.

“To Arizona’s sports and hockey fans and the City of Glendale, we appreciate your patience and diligence,” said Jamison, the former president and chief executive officer of the San Jose Sharks. “We wish everything was completed today as we worked extremely hard on the deal. However, we have taken significant steps to keep the Coyotes in Glendale for the long term. I’ve seen firsthand the wonderful support Arizona hockey fans have provided the Coyotes, and we will continue our efforts to keep the NHL in Arizona.”