Ellman, head of locally based Ellman Cos., has been underpressure from Scottsdale officials to show that he has thefinancial clout to purchase the team and to complete thedevelopment of a $577 million mixed-use facility in the southernpart of the upscale suburb. A 17,500-seat ice hockey arena willanchor the development, which also will include office space,retail stores, restaurants, an aquarium and movie theaters.

Ellman has handed over reams of financial documents to the city,but not everything the city asked for from his privately heldcompany. A stadium district law passed by voters last year requiresthat the city spend at least $100 million on the project during thefirst 10 years. The new development is expected to return at leastthat amount to city coffers in increased sales tax revenue.

Ellman and Gretzky, a partner in the purchase of the team, havebeen trying to sell 90 shares at $1 million each to investors inand out of the state since April. Ellman and Gretzky need $87million to complete the purchase of the team, and have already putin $16.5 million toward the sale. The pair was in Chicago yesterdayto meet with a group of prospective investors.