Greg Jamison has missed his deadline to buy the Phoenix Coyotes before a lease agreement with the City of Glendale expires.
The former CEO of the San Jose Sharks had until midnight Thursday to buy the team from the NHL under the terms of the lease agreement with Glendale, but was unable to get the money or investors he needed in time to hit the deadline.
"We will not be able to complete our purchase of the Phoenix Coyotes today in time to meet our deadline with the city of Glendale," Jamison said in a statement. "However, our journey to purchase the Coyotes will continue. We realize this will require additional conversations with the city of Glendale and the NHL. We still believe we can reach an agreement that satisfies everyone. We hope negotiations with the city proceed as smoothly as possible, as everyone involved wants the Coyotes to remain in Arizona."