As the owner turns: Phoenix Coyotes still in limbo as lease agreement deadline looms

SCOTTSDALE, Ariz. – The Phoenix Coyotes' ownership saga has taken another unexpected turn.

With a deadline for a lease agreement with the city of Glendale set to expire, prospective owner Greg Jamison has yet to complete his purchase of the team from the NHL.

Jamison, the former CEO of the San Jose Sharks, had until 11:59 p.m. Thursday to buy the team before his 20-year lease agreement with Glendale expires.

A league official told The Associated Press on Wednesday night that it was unlikely Jamison would have the funds or investors in place to meet the deadline.

Coyotes players and coaches have shrugged off the latest development after more than three years of playing without an owner.