AP Sources: Coyotes sale approved, hurdle remains - CBS 5 - KPHO

AP Sources: Coyotes sale approved, hurdle remains

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PHOENIX (AP) -

Two people familiar with the situation say the NHL has approved the sale of the Phoenix Coyotes to a group of Canadian-led investors, but the deal is contingent on reaching a lease agreement with the city of Glendale.

The NHL agreed to sell the team to Renaissance Sports & Entertainment, a group headed by George Gosbee and Anthony LeBlanc, according to the people, who spoke on condition of anonymity because there had been no official announcement.

They said NHL commissioner Gary Bettman, deputy commissioner Bill Daly and the prospective buyers will meet with Glendale officials on Tuesday for talks on a lease.

The NHL bought the Coyotes out of U.S. Bankruptcy Court in 2009 and has tried without success to find a buyer who would keep the team in Glendale.

Copyright 2013 Associated Press. All rights reserved.

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