Reinsdorf Out, Phoenix Coyotes Back In Limbo

Not a good day for Pacific Division teams. Of course, the San Jose Sharks loss kind of pales in comparison to this news regarding the Phoenix Coyotes:

The bid by Chicago businessman Jerry Reinsdorf to buy the Phoenix Coyotes is dead and the city of Glendale has returned to the previously shunned Ice Edge Holdings group in a last-minute bid to keep the team in Phoenix, sources close to the deal told ESPN.

Well, that ain't good. There were questions a few weeks back about the amount of cash the Ice Edge group could muster. The NHL preferred the Reinsdorf bid, as he has a history of sports-team ownership and, more importantly, a lot of cash.

For more on this as it breaks, remember to check out Five For Howling.