News and Finance

Ice Edge Holdings, one of the investor groups aiming to buy the Phoenix Coyotes, pulled off an April Fool's joke on one of Canada's largest media outlets.

Ice Edge COO Daryl Jones told the Toronto Globe and Mail on Thursday that his group was dropping its bid for the Coyotes hockey team and would instead look to buy Manchester United, one of the most valuable sports assets in the world. He told the newspaper that the sale would be financed via revenue bonds through the Stonehenge Municipality (a fictional entity).

The Globe and Mail went with the story and posted it on its Web site Thursday afternoon. Jones acknowledged it was all an April Fool's Day joke aimed at easing the mood around the Coyotes situation, which has been stirring passions in Canada.

Ice Edge is looking to buy the Coyotes, which are in Chapter 11 bankruptcy. The National Hockey League bought the team in October for $140 million. Throughout the bankruptcy and ownership saga, some Canadian media have advocated moving the team out of the Phoenix market to a Canadian location, such as Winnipeg or Hamilton, Ontario.

Ice Edge wants to buy the Coyotes and keep them in Glendale.

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