Peoriatimes.com

default avatar
Welcome to the site! Login or Signup below.
|
||
Logout|My Dashboard

Renaissance Sports, NHL to meet with City of Glendale

Group rumored front-runner to buy Coyotes, but fans skeptical

Print
Font Size:
Default font size
Larger font size

Posted: Tuesday, May 7, 2013 7:25 am | Updated: 7:27 am, Tue May 7, 2013.

As the process toward the purchase of the Phoenix Coyotes reaches a critical stage, Renaissance Sports & Entertainment and National Hockey League executives will meet with representatives from the City of Glendale Tuesday.

A person who asked not to be named because they cannot speak for the NHL said that Renaissance Sports has submitted an offer to purchase the Coyotes.

This person also said that the Renaissance group is the front-runner to win the bidding for the team.

“The NHL is going on the basis that (George) Gosbee's group is the leading group,” the anonymous source said. “They think that this offer is the most secure for both the team and the NHL.'

No word on if the group is committed to the City of Glendale and Jobing.com Arena.

Renaissance Sports is a group composed of Canadian investment banker George Gossbee; Anthony LeBlanc, former vice president of Blackberry manufacturer Research in Motion; Avik Day, president of investment firm Remvest Energy Partners of Houston; and Daryl Jones, director of research at Hedgeye Risk Management of Haven, Conn.

A report from someone who has seen the Renaissance offer says that their business plan appears to be turning the team around financially and keeping it in Glendale for the long term.

Reaction at Westgate Monday was mixed as fans wonder what is taking so long.

“I love the team and enjoy going to games every year, but I am to the point I just want it over,” Glendale resident Robert Marquez said while purchasing a Coyotes jersey at Just Sports. “I am so tired of every year, 'is this the last game ever at Jobing.com Arena?’ I just want to know either way now.”

Others echoed similar angst.

“Why all these possible buyers after four years?” said Valerie Jablonsky of Peoria while shopping at Westgate. “All of a sudden all these people want the Coyotes, but why has it taken so long? Is it because the city is going to give them a bunch of money or something else?”

Sources say an announcement about a Renaissance purchase could come in the next two weeks.

Should the deal not materialize, other potential buyers are waiting in the wings.

Darin Pastor, founder and CEO of Capsonte Affluent Strategies, of Irvine, Calif., has also reportedly submitted an offer for the team. Matt Hulsizer, John Kaites, Jerry Reinsdorf and Greg Jamison are also rumored to be interested in the Coyotes.

Reports have said that all potential buyers have signed non-disclosure agreements and cannot speak about the ongoing process.

Gosbee and Pastor could not be reached for comment on this story, as citizens continue to want a solution this year for the team.

“Either get a deal done or enough already,” Glendale resident Pamela Restune said at Westgate. “I am really just tired of hearing about it. Either sell them or move them, I just don't want to hear about it anymore.”

  • Discuss

Welcome to the discussion.