Prospective Seattle NHL owner, Victor Coleman, won’t submit an expansion bid by the NHL’s July 20 deadline, according to Chris Daniels of KING 5 News.
In June, the league announced it would open a formal expansion process. According to Daniels, in the first phase of the expansion process prospective ownership groups have to submit a down payment of $10 million with $2 million of that being non-refundable.
Las Vegas, Quebec City and Seattle were considered the three frontrunners to make bids.
The NHL considers Seattle a desirable market, however the city has yet to sort out the arena situation. It’s unclear at this time whether or not another ownership group from the Seattle area will step up and make a bid.
