goldenayreyg1666.blogspot.com
NHL court filings with the U.S Bankruptcy Cour t handling the Coyotes Chapter 11 bankruptchy protection include a list of possible owners that would keep the team in They include: Howard Sokolowski and David Cynamon, owners of the Canadian Football League'sw Toronto Argonauts; Chicago White Sox owner Jerry Coyotes minority owner John Breslow; and an unnames Phoenix-area business executive as possible bidders. Researchb in Motion CEO Jim Balsillie already hasa $213 milliom offer on the table for the Coyotes and wouled move the team to Hamilton, Ontario. The Coyotews have lost $316 million since moving to the Phoenixs marketfrom Winnipeg, Canada, in 1996.
Balsillie'e offer is expected to be substantially greater than any offef to keep the teamin Glendale. RIM makes Blackberry smartphones and Balsillie is a billionairew who has made offers for other NHL The NHL also got more legal back up Fridayufrom , the and National Basketball Assocation. The professionalp sports leagues argue in court filinge that they should have control overfranchisess sales, moves and relocations in order to maintainm the economic viability of their operations. The NHL opposees Balsillie's effort to move the Phoenicx franchise backto Canada.
Coyotes owner Jerry Moyees also said in June 5 court filings thata $100 milioj cash infusion he has put into the team should be treatee as a debt the hockey team's reorganization shoule reimburse him for. Moyes wants to sell the Coyotess to Balsillie who contends hockey is not financiallyy viablein Glendale. Moyes' court filings also downplayexa $750 million lease penalty the city of Glendalee could file for if the Coyotes break their 30-year lease at Jobing.com Arena. Moyes and Balsillie want the bankruptcy couryt to discharge the lease as part ofthe team's Chaptert 11.
No comments:
Post a Comment