Ice Edge withdraws bid for Dewey Ranch's Phoenix Coyotes NHL team

By Caroline Salls

Pittsburgh, Sept. 9 - Ice Edge Holdings has withdrawn its offer to buy the Phoenix Coyotes National Hockey League team from owners including Dewey Ranch Hockey, LLC because it was unable to finalize the details of an amended lease for the Jobing.com Arena in time for the auction on Sept. 10, according to an Ice Edge news release.

Ice Edge said it had been able to secure financing for its offer in the last 10 weeks, as well as come to terms with key creditors.

The company said it was unable to finalize the lease details despite the best intentions on both the part of Ice Edge and the city of Glendale, Ariz.

Ice Edge said it will examine its options after the conclusion of the bankruptcy auction process.

Dewey Ranch Hockey, LLC, Arena Management Group, LLC, Coyotes Holdings, LLC and Coyotes Hockey, LLC are the owners of the Phoenix Coyotes NHL team. The owners filed for bankruptcy on May 5 in the U.S. Bankruptcy Court for the District of Arizona. Their Chapter 11 case number is 09-09488.

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