NHL Commissioner Gary Bettman addressed the media prior to the Coyotes-Canucks game in Arizona regarding the proposed sale of the Coyotes to Chicago businessman Michael Hulsizer.

The deal is in jeopardy after the City of Glendale has been unable to sell $100 million dollars in bonds, a condition of the sale.

The taxpayer watchdog group Goldwater Institute has threatened a lawsuit against the city regarding the proposed deal.

"We are told that two independent law firms looked at this and said the transaction is legal under Arizona law," Bettman told media Tuesday.

Bettman said Goldwater refuses to meet with him and said a chilled market for city bonds is the only reason the sale has not gone through.

"We're not yet done. We haven't given up. And we're not giving up," said Bettman.

While Bettman remained optimistic, he said things must be solidified soon.

"(Time) is running out and we're getting close to the end," he said.

Bettman, however, refused to set a firm deadline and said that would only give Goldwater more motivation.

Bettman said he hopes that Glendale and Goldwater can resolve their issues quickly. If not, Bettman said the league has other things it can consider.

"We have options, but I'm not going to discuss what those options are because the options that we're going to continue to pursue right now are here (in Arizona)," said Bettman. "We are obviously aware of the interest in Winnipeg. We are greatly appreciative of that interest, but I don't to say or do anything that raises expectations. I don't think that that's fair."