The fourth time is the charm. The Phoenix Coyotes have a new owner. The National Hockey League approved the sale of the team Monday after four years of negotiations involving the city of Glendale, the NHL and several would-be owners.
The saga started in 2009 when former owner Jerry Moyes took the Coyotes into bankruptcy. He wanted to sell to a prospective owner who was going to move the team to Canada. The NHL and Glendale fought that effort, and the league bought the team and operated it for two years.
Then a Chicago businessman tried to buy the team but that was blocked by a potential lawsuit. Next up was Greg Jamison, the former owner of another NHL team. He won approval from the NHL to buy the team, but that fell apart when he could not meet a deadline to come up with the money for a lease agreement for the city owned Jobing.com Arena where the Coyotes play.
Monday’s approval by the NHL board of governors means the new team owner Renaissance Sports and Entertainment can move forward with its lease agreement for the arena.
There will be one more change after next season for the Phoenix Coyotes. They will be known as the Arizona Coyotes.