Sources told ESPN.com the city must guarantee a number of conditions with the NHL, including covering operating losses incurred next season, before the league will consider agreeing to sell the team to Ice Edge. One source said the league wants conditions meant by the end of this week, although NHL deputy commissioner Bill Daly told ESPN.com that timeline is not accurate. It's believed Ice Edge was waiting for those conditions to be met before signing th agreement with the city.
The situation in Glendale remains fluid; if the city does not agree to the league's conditions, it is possible the NHL will instead move quickly to finalize a purchase agreement with Canadian billionaire David Thomson and move the team to Winnipeg. Sources tell ESPN.com there is a purchase agreement ready if the Glendale situation disintegrates.
If the team moves to Winnipeg, the Ice Edge group would then move the existing AHL team, the Manitoba Moose, to Thunder Bay, Ontario.
When the city refused to accept the first lease proposal from Ice Edge, it was assumed the bid to buy the team was dead. However, about a week ago, city officials reached out to Ice Edge and told them the Reinsdorf deal was not going to move forward.
