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NHL Approves Sale of Phoenix Coyotes in Ending League Ownership

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Aug. 6 (Bloomberg) -- The sale of the Phoenix Coyotes was approved by the National Hockey League’s board of governors, terminating the league’s four-year ownership of the franchise.

The Coyotes were officially sold to IceArizona AcquisitionCo. LLC, a group headed by Canadian businessman George Gosbee and Anthony LeBlanc, a former Research in Motion Ltd. executive. The team will remain in Arizona.

“The National Hockey League believes in Arizona as an NHL market and that these new owners can provide the Coyotes the opportunity to secure a stable, long-term future in Glendale,” NHL Commissioner Gary Bettman said in a statement. “We are extremely pleased that a positive resolution has been achieved for the fans, the city, the Coyotes and the League.”

Renaissance Sports and Entertainment LLC will act as the managing partner of IceArizona, the NHL said.

“The Coyotes are here to stay and we will continue to work hard on and off the ice and have a strong presence in our community,” LeBlanc said.

The NHL purchased the Coyotes, who missed the playoffs with a 21-18-9 record last season, in bankruptcy four years ago. Terms of the latest sale weren’t disclosed.

To contact the reporter on this story: Erik Matuszewski in New York at matuszewski@bloomberg.net

To contact the editor responsible for this story: Michael Sillup at msillup@bloomberg.net