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Sources: Matthew Hulsizer walks away

Updated: June 28, 2011, 3:17 PM ET
By Scott Burnside | ESPN.com

The most promising potential buyer of the beleaguered Phoenix Coyotes to come along since the team was thrown into bankruptcy two years ago has walked away from the process, a source told ESPN.com on Monday afternoon.

Chicago businessman Matthew Hulsizer, who had hoped to have a deal in place to purchase the team from the NHL last spring, had set aside more than $100 million, but ongoing issues about a new arena lease agreement with the city of Glendale have led to Hulsizer withdrawing ...

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