Greg Jamison's deal to buy the Phoenix Coyotes could be in jeopardy.
According to The Arizona Republic, the former San Jose Sharks CEO has until the city's imposed midnight deadline (2am et/11pm pt) to come up with financing for the club, or he will lose out on the arena-management deal that would see the city pay him an average of $15 million a year over 20 years to manage Jobing.com Arena.
Glendale Mayor Jerry Weiers, who was not the mayor of the city when the lease agreement was agreed to, denied an extension to Jamison when he was contacted Wednesday night by one of Jamison's attorneys.
"The bottom line is that Jamison himself hasn't talked with me," Weiers told the paper. "I do know that a group trying to help Jamison or trying to get involved with Jamison – however you want to word it – they're trying to figure out a way to keep his deal afloat."
If Jamison can't get the funding, it could once again set back a franchise that has had three previous potential owners try to buy the club since the NHL bought the team from U.S. Bankruptcy Court in 2009.