National Hockey League Deputy Commissioner Bill Daly issued the following statement today regarding the proposed sale of theto Ice Edge Holdings:
"The NHL and Ice Edge Holdings announced today that they have entered into a Letter of Intent to proceed in attempting to document and close a proposed transaction pursuant to which Ice Edge would purchase the Phoenix Coyotes' franchise. While much remains to be done, the NHL looks forward to working closely with Ice Edge to bring the sale to conclusion as expeditiously as possible. Ice Edge has committed to keep the Coyotes in Glendale, Arizona."
>> league release
A lot of questions here. How much? Are the games in Saskatoon still a go? Will Ice Edge still seek to have Wayne Gretzky involved? Who else is a part of this group and where does the cash come from?
And, finally, will there be an out clause in the lease?
The NHL's board of governors are meeting beginning Tuesday in California, and you better believe this sale will be at the top of the agenda. There will also be at least a handful of Canadian media out there at Pebble Beach, so there'll be plenty of coverage, too.
The Arizona Republic has a little more, but the real flow of information on this is coming after the weekend. Stay tuned.