Phoenix-based entrepreneur and developer Steve Ellman and hockey legend Wayne Gretzky today meet with the National Hockey League leadership in a Florida hotel to determine if their $87-million purchase proposal for the Phoenix Coyotes will be approved. The two have to convince the ownership group that they have the financial clout to complete the purchase and manage the team.
The 30 NHL owners are expected to unanimously approve the purchase.
If the sale is consummated, then Ellman is expected to move forward with the $575-million redevelopment of an aging mall in south Scottsdale that will be the site of a 17,500-seat ice hockey arena. Demolition of the mall is about one-third completed, but halted in September when it became evident that new construction wouldn't begin this fall. Fighting between Ellman and the city of Scottsdale over Ellman's refusal to turn over sensitive financial documents led to the delay. Scottsdale will be investing as much as $100 million into the project in the form of tax abatement.
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