NHL rejects California investment banker's bid for Phoenix Coyotes

PHOENIX - Yet another bid for the Phoenix Coyotes has been rejected by the NHL, according to Monday reports.

The NHL nixed California investment banker Darin Pastor's bid to buy the team because it failed to meet the league's requirements, ESPN reports.

NHL deputy commissioner Bill Daly told ESPN that Pastor's offer "didn't include the elements we had previously discussed were necessary to warrant serious consideration."

Pastor emerged recently as a potential buyer for the team but now joins the long list of would-be Coyotes suitors who claimed to be ready to buy the league-operated team but failed to meet expectations.

Investors with the former Ice Edge Group led by Anthony LeBlanc and Calgary-based financier George Gosbee are believed to be the front-runners to buy the team for $170 million, ESPN reported.

Pastor was reportedly willing to pay up to $277 million for the team, but ESPN reported that if that were true, it would have been unlikely the league would walk away from his offer.

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