By David Shoalts
Globe and Mail
Greg Jamison says he hopes to close the purchase of the Phoenix Coyotes in January, and while the usual doubters point out this is simply the latest in a long line of
such predictions, they are giving him full marks for creativity in his hunt for investors.
This is due to Jamison’s novel but failed attempt to find investors through the Immigrant Investor Program of the U.S. Citizenship and Immigration Services. Two sources familiar with his investment plans said Jamison, the former president of the NHL’s San Jose Sharks, tried to raise at least some of the $170-million (all currency U.S.) purchase price by using what is also known as the EB-5 program.
Glendale city council approves Coyotes’ $320-million arena deal
EB-5 is the official name of the visa, a conditional green card, granted by the U.S. government to wealthy immigrants in exchange for an investment of at least $1-million ($500,000 in rural or high-unemployment areas) in an American business.
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