As Michael Corleone said in the Godfather III “Just when I thought that I was out they pull me back in”. That has to be how the Ice Edge Holdings and the fans of the Phoenix Coyotes must feel this evening as news broke on ESPN.com that the group lead by Jerry Reinsdorf which the city of Glendale had approved a new lease with, is no longer interested in the team. It what sounds like an act of desperation, the city of Glendale has been working with Ice Edge Holdings in hope that they can save the Coyotes and keep them in Glendale. There’s only one problem, the NHL has a Canadian bidder and is growing impatient with the process.

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 Coyotes end up moving to Winnipeg, it’s unlikely the current tenants of the arena there, the AHL Manitoba Moose, could remain. There is a possibility Ice Edge would be interested in moving the AHL franchise to Thunder Bay, Ontario, where a number of executives are from…{ESPN]