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Canadian businessmen acquire Phoenix Coyotes from NHL for $170M

Posted on Sunday, September 8th, 2013 at 7:14 pm    

The National Hockey League sold the Phoenix Coyotes to a group of investors led by Canadian businessmen George Gosbee and Anthony LeBlanc for $170 million on Monday, August 5. The NHL acquired the Coyotes in 2009 after the team’s previous owners went bankrupt, compromising fans and players, as well as Phoenix, who poured $180 million into opening an arena for the team.

Gosbee, who serves as chairman and chief executive officer of Canadian financial services firm AltaCorp Capital, Inc., said the transaction was one of the most difficult ones he had ever facilitated in his 21 years in the financial industry.

LeBlanc was optimistic that the Coyotes will have a bright future under their management, saying that they are confident of becoming a Stanley Cup contender for the next 10 years.

NHL commissioner Gary Bettman said the sale provided the Coyotes the “opportunity to secure a stable, long-term future in Glendale.”

It is important for a business to acquire the services of an experienced and knowledgeable legal team when conducting business transactions and resolving legal issues, as these professionals can prevent major and expensive errors from occurring. Get in touch with the legal team of Slater Pugh Ltd. LLP by calling our Texas office today at to discuss your business’s legal needs.

The National Hockey League sold the Phoenix Coyotes to a group of investors led by Canadian businessmen George Gosbee and Anthony LeBlanc for $170 million on Monday, August 5. The NHL acquired the Coyotes in 2009 after the team’s previous owners went bankrupt, compromising fans and players, as well as Phoenix, who poured $180 million into opening an arena for the team.

Gosbee, who serves as chairman and chief executive officer of Canadian financial services firm AltaCorp Capital, Inc., said the transaction was one of the most difficult ones he had ever facilitated in his 21 years in the financial industry.

LeBlanc was optimistic that the Coyotes will have a bright future under their management, saying that they are confident of becoming a Stanley Cup contender for the next 10 years.

NHL commissioner Gary Bettman said the sale provided the Coyotes the “opportunity to secure a stable, long-term future in Glendale.”

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