Jamison lacks cash to buy Coyotes: Report
Greg Jamison, the prospective owner of the Phoenix Coyotes, has not raised enough money to buy the team, sources have told Forbes.
Jamison is having a tough time getting the cash together to complete the $170-million purchase because investors doubt the potential to make a profit — even with a $15-million-a-year taxpayer subsidy.
City council will vote Friday on a deal in which Glendale, Ariz., would sign a 20-year management and lease deal and pay Jamison $15 million annually.
http://slam.canoe.ca/Slam/Hockey/NHL/Phoenix/2012/06/06/19846316.html
2 Responses to Jamison lacks cash to buy Coyotes: Report
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Shockingly, people don’t want to invest in a franchise that has never made money. It’s almost like people with lots of money usually avoid bad investments.
I honestly do not get the reason Bettman is so damn stubborn about keeping the Coyotes in Phoenix. What logical reason is there to keep a team that has never once made money in a market that hasn’t grown?