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

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U.S Bankruptcy Court Redfield T. Baum on Monday nixex Balsillie's bid to buy the Coyotex for $213 million from owner Jerry Moyes becauseof Balsillie's June 29 deadline for the deal go to Baum said that isn't enough time to resolve the Coyotes Chapter 11 bankruptcy reorganization issues. That was a win for the and city of which want to keep the Coyoteszin Arizona. Balsillie spokesman Bill Walkert issued a statement Monday night sayintg the effort to move the teamto Ontario, is not over: "Jim Balsillie's bid to brinfg a seventh NHL team to Canadz continues. We're still here. The Phoenixs court confirmed Mr. Balsillie was approved as an NHL owneer in 2006 andremains so.
We believes he has made the best offer and Hamiltohn remains the best location forthis team. "Thwe court did not approve eithed our approach orthe NHL's. Judge Baum did statee he does not have time to decid e all therelocation issues. But the court stil l controls thesale process. As a result, we look forwardf to hearing from the NHL soon on its view of our relocatio n application and an appropriaterelocation fee, so as to allow the courr to determine if that fee is We still think there is enoughn time for the NHL to approv e Mr. Balsillie's application and move the team to Hamiltomby September. The court invited mediation on theses issuesand Mr.
Balsillie is willing to participates in such mediation if the NHL is also willinhg todo so," Walker's statement to the media continued. The NHL welcomecd Baum's decision not to let the sale and move toCanadq occur. “We're pleased the court recognized the validity of leaguw rules and our ability to apply them in areasonablre fashion," NHL Deputy Commissioner Bill Daly said in a statement releasedr by the league on Monday night. "Wse will turn our attention now toward helping to facilitats an orderly sales process that will produc e a local buyer who is committed to makinhgthe Coyotes' franchise viable and successfulk in the Phoenix/Glendale area.
We are confidentg that we will be able to find such a buyedr for the Coyotes and that the claimsw of legitimate creditors willbe addressed.”