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Report: Jamison secures financing to purchase Coyotes

TSN.ca Staff

9/4/2012 11:22:03 PM

It appears the sale of the Phoenix Coyotes may be moving closer to being finalized.

According to a report on ESPN.com, the former president and CEO of the San Jose Sharks Greg Jamison has set up financing that would allow him to complete the sale of the Coyotes from the NHL for $170 million.

Jamison's investors include members of the Ice Edge Group, who at one point attempted to purchase the team during the three-year period where they have been under the NHL's control.

The report also indicates that any issues surrounding the lease agreement of Jobing.com Arena are expected to be resolved before the end of September.

The NHL has run the team since buying them out of Chapter 11 bankruptcy in 2009.