GLENDALE, Ariz. -- NHL Commissioner Gary Bettman announced Monday that the League has an understanding with a group headed by former San Jose Sharks CEO Greg Jamison to pursue a purchase agreement of the Phoenix Coyotes.
Jamison's group must formalize the purchase agreement with the League and gain approval from the Board of Governors, while also gaining approval on a lease agreement for Jobing.com Arena with a City of Glendale before the sale can be completed.
Bettman said he hopes to have the process complete "in weeks, not months."
The Coyotes were put into bankruptcy by an ownership group led by Jerry Moyes in May 2009, and the League purchased the team in October of that year.
Jamison joined the Sharks in 1993 after a stint as vice president of business operations with the Indiana Pacers of the NBA. Before that, he was the director of marketing for the NBA's Dallas Mavericks from 1980-87.
He served as the president and CEO of Silicon Valley Sports & Entertainment after being promoted to the position in 1996. Jamison led a group of 11 investors in purchasing the Sharks from original owner George Gund in 2002. Jamison was the team's representative on the League's Board of Governors until October 2011 when he began to pursue purchasing the Coyotes.
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