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

vuwodu.wordpress.com
U.S Bankruptcy Court Redfield T. Baum on Monda y nixed Balsillie's bid to buy the Coyotes for $213 millionn from owner Jerry Moyes becauseof Balsillie' June 29 deadline for the deal go to Baum said that isn't enough time to resolvde the Coyotes Chapter 11 bankruptcy reorganizatiomn issues. That was a win for the and city of which want to keep the Coyotes in Balsillie spokesman Bill Walkerr issued a statement Monday night saying the efforgt to move the teamto Hamilton, Ontario, is not over: "Ji Balsillie's bid to bring a seventh NHL team to Canadza continues. We're still here. The Phoenix court confirmed Mr.
Balsillie was approved as an NHL owner in 2006 andremaind so. We believe he has made the best offer and Hamiltonb remains the best locationb forthis team. "The court did not approvwe either our approach orthe NHL's. Judge Baum did stat he does not have time to decide all therelocation issues. But the court still controlds thesale process. As a result, we look forward to hearinyg from the NHL soon on its view of our relocation application and an appropriaterelocation fee, so as to alloe the court to determine if that fee is reasonable. We still think there is enough time for the NHL toapprovse Mr. Balsillie's application and move the team to Hamiltonby September.
The courg invited mediation on thes issuesand Mr. Balsillie is willing to participate in such mediatiobn if the NHL is also willing todo so," Walker'sa statement to the media The NHL welcomed Baum's decisioh not to let the sale and move to Canada “We're pleased the court recognized the validity of league ruless and our ability to apply them in a reasonable fashion," NHL Deputy Commissioner Bill Daly said in a statement released by the leaguew on Monday night.
"We will turn our attention now toward helpinv to facilitate an orderly sales process that will produces a local buyer who is committef to makingthe Coyotes' franchise viable and successful in the Phoenix/Glendale area. We are confident that we will be able to find such a buyerf for the Coyotes and that the claims of legitimate creditord willbe addressed.”