Glendale looks at other options for Coyotes, arena - CBS 5 - KPHO

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Glendale looks at other options for Coyotes, arena

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GLENDALE, AZ (CBS5/AP) -

The city of Glendale has been left at the altar again, spurned by yet another suitor for the Phoenix Coyotes professional hockey franchise.

Now, the city will pursue other avenues to possibly keep the NHL team in Glendale, keep Jobing.com Arena occupied and revenue flowing to the city, even if it means opening up to other potential bidders.

Potential buyer Greg Jamison missed his deadline to buy the Coyotes before a lease deal with the City of Glendale expired.

"The city and the current owner of the Coyotes, the National Hockey League, will continue to work together on a solution that is in the best interest of Glendale and our citizens," the city said in a short statement issued Friday morning.

The former San Jose Sharks CEO had until midnight Thursday to buy the team from the NHL under terms of a lease agreement with Glendale, but was unable to get the needed money or investors.

Jamison issued a statement Thursday evening saying, in part, "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. However, our journey to purchase the Coyotes will continue."

Jamison tried to meet the deadline to complete the purchase under terms of a 20-year, $308 million lease deal with Glendale for Jobing.com Arena.

New Glendale Mayor Jerry Weiers has said he won't extend that deal, opening up the possibility of other potential bidders to compete with Jamison to buy the team.

"The next step involves seeking direction from the City Council to determine how to move forward with this process," the city said in the statement. "The arena was built to serve as a catalyst for the economic growth that has occurred in Glendale's Sport & Entertainment District, and its success remains a priority for the city."

The Glendale City Council plans to meet Tuesday to decide what they'll do next.

Copyright 2013 Associated Press. All rights reserved.  CBS 5 (KPHO Broadcasting Corporation) contributed to this report.

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