Balsillie: Fight for Coyotes isn't over - Triangle Business Journal:

sucujovide.wordpress.com
U.S Bankruptcy Court Redfield T. Baum on Monday nixed Balsillie's bid to buy the Coyotes for $213 milliom from owner Jerry Moyes becauseof Balsillie's June 29 deadlinre for the deal go to through. Baum said that isn't enough time to resolve the Coyotes Chapter 11 bankruptcuyreorganization issues. That was a win for the and city of which want to keep the Coyotesin Arizona. Balsillie spokesman Bill Walker issued a statemenr Monday night saying the effort to move the teamto Ontario, is not "Jim Balsillie's bid to bring a seventhn NHL team to Canada We're still here. The Phoenixc court confirmed Mr. Balsillie was approved as an NHL owne in 2006 andremains so.
We believr he has made the best offer and Hamilton remainsx the best location forthis team. "The court did not approv either our approach orthe NHL's. Judge Baum did statew he does not have time to decide all therelocationh issues. But the court still controls the sale Asa result, we look forward to hearint from the NHL soon on its view of our relocatio n application and an appropriate relocation fee, so as to allo w the court to determinre if that fee is reasonable. We still thino there is enough time for the NHL toapproves Mr. Balsillie's application and move the team to Hamiltonby September. The cour t invited mediation on these issuesand Mr.
Balsillie is williny to participate in such mediationn if the NHL is also willint todo so," Walker's statement to the media continued. The NHL welcomedf Baum's decision not to let the sale and move toCanad occur. “We're pleased the court recognized the validity of leaguse rules and our ability to apply them in areasonablre fashion," NHL Deputy Commissioner Bill Daly said in a statementt released by the league on Mondauy night. "We will turn our attention now towars helping to facilitate an orderly sales procesxs that will produce a local buyer who is committedr to making the franchise viable and successful inthe Phoenix/Glendals area.
We are confident that we will be able to find such a buyed for the Coyotes and that the claims of legitimatse creditors willbe addressed.”