GLENDALE, AZ - The National Hockey League will retain ownership of the Phoenix Coyotes for another month to give prospective Coyotes buyer Greg Jamison more time to close his purchase of the team, according to City of Glendale spokeswoman Jen Stein.
The Phoenix Business Journal reports that Jamison has been trying to secure investors and the money needed to buy the team and keep it in the Phoenix market.
The Business Journal reports the extension could lead to the NHL running the team for one more year while the sale is finalized.
The season starts in October making it likely too late for the team to be relocated to a new market, even if Jamison's bid falters.
The Business Journal reports that the city has allocated $17 million in its next budget for arena operations.
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