OTTAWA and NEW HAVEN, CT, Aug. 25 /CNW/ - Ice Edge Holdings, LLC (Ice
Edge), today filed an Asset Purchase Agreement (APA) with the United States
Bankruptcy Court for the District of Arizona as the next step in their
acquisition of the Phoenix Coyotes Hockey Club.
"The Phoenix Coyotes organization presents a number of great hockey and
business opportunities," said Anthony LeBlanc CEO of Ice Edge. "We will build
on the team's brand, the Wayne Gretzky brand and a partnership with the City
of Glendale to ensure that Arizona continues to enjoy the NHL for many years
Details included in the APA are the renegotiation of key debts and
contracts, a revamped sales and marketing strategy and a more effective
utilization and partnership with Wayne Gretzky. Ice Edge has also negotiated
an agreement in principal with SOF Investments, LP.
"Ultimately this is a plan to revitalize NHL hockey in Arizona and the
Southwestern United States," said Keith McCullough, Chairman of Ice Edge. "The
Phoenix area has shown itself to be a fabulous sports city, and we are looking
forward to re-branding the Coyotes and making them a big part of the
"In the last eight weeks we have worked with the NHL, the City of
Glendale and members of the Coyotes' organization to develop a solid plan for
the successful operation of the Coyotes' organization in Phoenix," said Daryl
Jones, Chief Operating Officer of Ice Edge. "We look forward to the results of
the auction on September 10, 2009."
Ice Edge Holdings, LLC is a company that has been formed to acquire the
Phoenix Coyotes with ownership that includes individuals with financial and
marketing backgrounds who believe that the Coyotes are an undermanaged and
underutilized asset. The group is pursuing a strategy to keep the team in
Arizona for the longer term and a detailed plan to create a viable hockey
future in Arizona.
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