UPDATE: Coyotes Owner Jerry Moyes agrees to sell to the NHL

[pghbuccos]

EDIT: Phoenix Coyotes owner Jerry Moyes agrees to a deal to sell the team to the NHL. the deal must be approved by US Bankruptcy Court Judge Redfield T. Baum. part owner and former coach Wayne Gretzky has not agreed to the deal. both sides hope to complete the deal by November 5th. the NHL will immediately put the team up for sale and hope to sell the team to an owner that will keep the team in Arizona.

TSN.ca

EDIT: from NHL.com

Bankruptcy court judge rejects both bids for Coyotes
Wednesday, 09.30.2009 / 5:13 PM / News
NHL.com
U.S. Bankruptcy Court Judge Redfield T. Baum on Wednesday rejected bids by the National Hockey League and Canadian businessman Jim Balsillie to buy the Phoenix Coyotes.

In his 31-page decision Baum threw out Balsillie's bid with prejudice, saying it could not succeed because he can't properly satisfy the NHL's rights regarding relocation. Balsillie wanted to move the team to Hamilton, Ont.

"This conclusion effectively is the end for the efforts of PSE, Balsillie, Moyes and the Coyotes to force a sale and relocation of the hockey team based upon the claimed powers in Section 363 (f)(4) of the Code; i.e., those efforts and related motions are denied with prejudice," Baum wrote.

However, he left the door open for the NHL to take another crack at ownership by amending its bid.

"In hockey parlance, the court is passing the puck to the NHL, who can decide to take another shot at the sale net or it can pass off the puck," he wrote.

Deputy Commissioner Bill Daly said in a statement that "we are pleased that the Bankruptcy Court has confirmed the League's right to select its owners and the location of its franchises. We are reviewing the opinion and considering how we can best address the court's concerns regarding our offer to purchase the Coyotes. It remains our goal to secure the long-term stability of the Coyotes in Glendale."

the fate of the Coyotes will be decided tomorrow when the team is auctioned off in bankruptcy court. there is a hearing today that will discuss the possibility of the team staying in Glendale or the relocation of the team to Hamilton Ontario. both NHL commissioner Gary Bettman and Research in Motion co-CEO Jim Balsille will take the stand today. Bettman will try to convince the judge to allow the NHL to buy the team and then sell the team and Balsille will try to convince the judge to allow him and his financiers to buy the team for $242.5 million and move them to Hamilton after this season. Bettman and the NHL are only offering $140 million.

TSN.ca

I hope if the judge does allow Balsille to buy the Coyotes that he actually has the money. he has previously tried to buy the Penguins and the Predators and both times the NHL decided he didn't have the financial backing he claimed to have and denied him a franchise. the NHL owners have already voted against Balsille's attempt to buy the Coyotes but if the judge sides in his favor the team is his.

 

[jeff550]

Re: Phoenix Coyotes fate to be decided after 2 day hearing

please keep the in arizona. i would be mad if they moved

 

[G $MONEY$]

Re: Phoenix Coyotes fate to be decided after 2 day hearing

Give them to Balsille and let the team come back to Canada to Waterloo or wherever he is moving them. Canada needs to get some major league teams back after losing so many in recent years (Montreal Expos, Winnipeg Jets, Quebec Nordiques, Vancouver Grizzlies).

 

[jeff550]

Re: Phoenix Coyotes fate to be decided after 2 day hearing

Give them to Balsille and let the team come back to Canada to Waterloo or wherever he is moving them. Canada needs to get some major league teams back after losing so many in recent years (Montreal Expos, Winnipeg Jets, Quebec Nordiques, Vancouver Grizzlies).

the Coyotes dont count as a major team

 

[adamcm]

Re: Phoenix Coyotes fate to be decided after 2 day hearing

Give them to Balsille and let the team come back to Canada to Waterloo or wherever he is moving them. Canada needs to get some major league teams back after losing so many in recent years (Montreal Expos, Winnipeg Jets, Quebec Nordiques, Vancouver Grizzlies).

the Coyotes dont count as a major team

I believe they will be if the move to Canada. This is a team with alot of young star power.

 

[pghbuccos]

Re: Phoenix Coyotes fate to be decided after 2 day hearing

well after 2 days of hearing no decision has been made and the Coyotes future in Phoenix is still up in the air. the judge has stated that it's possible neither side will be awarded the Coyotes. I don't know what would happen if this occurs. I feel bad for the players, coaches and fans in Phoenix. it must be very difficult to not know what is going to happen to their team.

 

[lumm0x]

Re: Phoenix Coyotes fate to be decided after 2 day hearing

Move em back to Winterpeg. No one cares in Phoenix and Ontario has enough teams.

 

[Knuckles]

Re: Phoenix Coyotes fate to be decided after 2 day hearing

Move em back to Winterpeg. No one cares in Phoenix and Ontario has enough teams.

 

[jeff550]

Re: Phoenix Coyotes fate to be decided after 2 day hearing

well after 2 days of hearing no decision has been made and the Coyotes future in Phoenix is still up in the air. the judge has stated that it's possible neither side will be awarded the Coyotes. I don't know what would happen if this occurs. I feel bad for the players, coaches and fans in Phoenix. it must be very difficult to not know what is going to happen to their team.

can i buy the team for $1. i actualy hope they stay in Arizona.

 

[pghbuccos]

Re: EDIT: Bankruptcy court judge rejects both bids for Coyotes

updated in first post

 

[pghbuccos]

updated in first post