B3

The Canadian Press

Stumble Upon

del.icio.us

Digg

Facebook

Print

Email

Speak Up

A Montreal businessman is reportedly leading a group of Phoenix-area investors who want to buy the NHL's Coyotes and keep the team in Glendale, Ariz.

According to a report on the Globe and Mail's website, Steve Stotland and his group began pursuing the Coyotes after the team emerged from bankruptcy court and was sold to the NHL earlier this month.

Stotland was part of a group that looked into buying the Montreal Canadiens when they were for sale in 2000 and again this past spring.

Canadian billionaire Jim Balsillie tried to buy the Coyotes out of bankruptcy protection and move it to Hamilton, but ended his pursuit after the court ruled his bid could not proceed. The team is projected to lose as much as US$50 million this season, but Stotland told the Globe and Mail that his Camelback Hockey Group believe the team's fortunes can be turned around with local ownership and continued improved play on the ice.

Stotland also told the Globe and Mail his group is comprised of high net-worth individuals in the Phoenix area.

NHL deputy commissioner Bill Daly confirmed there has been discussions with Stotland's group.

"I know he's done due diligence and met with the team and that's the extent of it," said Daly.

"He seems to be excited by the prospect of owning the team and we'll see where it goes."