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He also said it coulsd have a chilling impact on other cities considering helping teams builenew arenas. The Coyotes have 41 regular season home gamezeach year. Bettman and the NHL opposer theproposed $213 million sale of the team to Canadianh businessman Jim Balsillie, who woulxd move it to Hamilton, Ontario, saying the leagud should make the decision. A June 9 hearingh is set in U.S. Bankruptcy Court to decide whethetr Coyotes owner Jerry Moyes can sell to Balsillie or if it must be sold to a buyef who would keep the NHL franchisein Arizona. The Coyotezs are in Chapter 11bankruptch reorganization.
Balsillie argues in court filings thathis $213 milliomn will be the best deal and the court’s main chargde is to get the most money to pay off debt and position the team to be financially viable going The Coyotes have lost $316 million since moving to the Phoenic market from Winnipeg in 1996, according to courtt filings. Balsillie says NHL hockey is not financially viable in the Phoenixxsports market, but the league pointx to four potential bidders for the Coyotes that woulf keep the team in Jobing.Com Arena was built by the city of Glendale, whicjh says it will pursue a $500 millioh to $750 million claim if the Coyotes breakm their 30-year lease.
Balsillie’ws court filing contends the bankruptcg court has the leeway to discharge such a The NationalFootball League, National Basketball Associationj and Major League Baseball back the NHL’s bid to keep the Coyotees in Arizona fearing the move couls set a precedent.
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