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Ice Edge Holdings says deal is still alive

Anthony LeBlanc says contrary to published reports, his company’s deal to buy the Phoenix Coyotes is not about to fall apart. LeBlanc, a partner with Ice Edge Holdings Inc.
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Ice Edge Holding’s Anthony LeBlanc says his group continues to negotiate with the city of Glendale, Ariz. to finalize a lease to keep the Phoenix Coyotes at Jobing.com Arena.
Anthony LeBlanc says contrary to published reports, his company’s deal to buy the Phoenix Coyotes is not about to fall apart.

LeBlanc, a partner with Ice Edge Holdings Inc., told the Associated Press on Monday night that they’ve hired a former Arizona lawyer to cement in place a lease agreement with the city of Glendale, Ariz. for the Coyotes to remain at Jobing.com Arena.

"Ice Edge continues to work closely with the city of Glendale and the NHL to finalize all required pieces of this very complex transaction," LeBlanc told AP via email.

On Monday the Phoenix Business Journal published a report, citing two unnamed sources, that the NHL had reached an agreement with a Winnipeg group as a back-up plan in case a deal with Ice Edge or sports mogul Jerry Reinsdorf could not be reached before the league’s self-imposed June 10 deadline.

The league bought the team last year in U.S. bankruptcy court and is trying to flip it to an ownership group that wants to keep the financially barren franchise in Phoenix.

NHL deputy commissioner Bill Daly on Monday refuted the Business Journal report, denying the league has any deal in place to move the Coyotes to Winnipeg or any other city.

"Our focus continues to be on completing a transaction with local ownership that is committed to operating the team in Glendale," he said in a release issued by the NHL. "Based on the communications and information we are receiving on a regular basis, the stakeholders involved continue to express a high level of confidence that can be successfully achieved.

"We will not focus on completing arrangements for one or more alternative option(s) until such a time as it may become necessary."

The Business Journal story says Manitoba Moose owner True North Sport & Entertainment is the Winnipeg Group in question. True North principals include billionaire David Thomson. The report did say the NHL’s preference is to keep the team in Arizona.

Scott Brown, the company’s communications director, would not speak directly about the issue, when contacted by the Business Journal for the story.

"Due to the possible impact on both the Coyotes and our own AHL product here in Manitoba, we’ve actually been hesitant to engage in any discussion publicly about the situation in Phoenix as far back as last summer when rumours began to surface of the team’s possible departure. It’s our understanding the NHL is working very hard to keeping the team where it is in Phoenix," Brown told the paper.

The Coyotes moved to Phoenix in 1996, where they have lost $300 million since arriving. Ultimately it forced former owner Jerry Moyes to file for Chapter 11 bankruptcy, leading to the NHL’s purchase of the team after a protracted attempt by Moyes to sell it to Research in Motion founder Jim Balsillie.

Balsillie wanted to move the team to Hamilton, which the NHL’s board of governors objected to, ultimately voting against Balsillie as a suitable owner.

The Coyotes spent 24 years in Winnipeg, where they were known as the Jets, the first seven years in the defunct World Hockey Association and the last17 in the NHL.

LeBlanc last month confirmed to Thunder Bay Source that Ice Edge was very much in play to buy the Coyotes and that financing was not an issue, despite reports that claimed the group could not afford the US$140-million price tag.

Partner and company chief operating officer Daryl Jones said money shouldn’t be a problem.

"Ice Edge feels very comfortable with (its) financing. Our banks are very interested in this deal," he’s quoted as telling a Toronto radio station in recent months.

LeBlanc has repeatedly said if successful with his Coyotes bid that he wants to relocate an American Hockey League team to Thunder Bay. Failing that, he’s also been looking at the ECHL. Either team would be contingent on a new arena being built.

On Monday Thunder Bay city council agreed to hold two open houses with workshops prior to the release of phase two of their arena study.


Leith Dunick

About the Author: Leith Dunick

A proud Nova Scotian who has called Thunder Bay home since 2002, Leith is Dougall Media's director of news, but still likes to tell your stories too. Wants his Expos back and to see Neil Young at least one more time. Twitter: @LeithDunick
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