The Phoenix Coyotes have been tabled a preliminary offer to buy the financially troubled team.
There are few details on the offer, however, it is considered to be much better than the one the team first received last month.
In mid-February, the struggling franchise received an offer from an investor to buy the team. Coyotes owner Jerry Moyes later confirmed, at least in part, that the organization had received expressions of interest from potential investors.
"Wayne Gretzky and I have had discussions with potential investors interested in joining us in continuing the team's presence in Glendale. I have met with Glendale city management, who expressed strong support for the team, and whose assistance would contribute to helping the Coyotes operate on a positive cash flow basis," Moyes stated through the release at the time.
Last week, Phoenix television station KPNX obtained documents stating the city of Glendale, Ariz., had been letting the team play virtually rent-free at Jobing.com Arena for seven months. According to the station's website, the break could be worth up to US$4 million over the course of a year.
The team has been struggling on the ice as well, going 3-7-0 in their last 10 games. They sit last in the Pacific Division and are 14th in the Western Conference, nine points out of a playoff spot.