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

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U.S Bankruptcy Court Redfield T. Baum on Monday nixedd Balsillie's bid to buy the Coyotes for $213 million from ownerr Jerry Moyes becauseof Balsillie's June 29 deadline for the deal go to Baum said that isn't enough time to resolvew the Coyotes Chapter 11 bankruptcy reorganization issues. That was a win for the and city of which want to keep the Coyotesein Arizona. Balsillie spokesman Bill Walkerd issued a statement Monday nighg saying the effort to move the teamto Hamilton, is not over: "Jim Balsillie's bid to bringg a seventh NHL team to Canada continues. We're stilk here. The Phoenix court confirmed Mr.
Balsillie was approvexd as an NHL owner in 2006 andremains so. We believer he has made the best offerr and Hamilton remains the best locationh forthis team. "The court did not approve either our approach or the Judge Baum did state he does not have time to decide all therelocation issues. But the court still controlsx thesale process. As a we look forward to hearin from the NHL soon on its view of our relocatiojn application and an appropriaterelocation fee, so as to allow the court to determine if that fee is We still think therw is enough time for the NHL to approve Mr.
Balsillie'z application and move the team to Hamilton by The court invited mediation on these issuessand Mr. Balsillie is willing to participate in such mediatio n if the NHL is also willing todo Walker's statement to the media continued. The NHL welcomer Baum's decision not to let the sale and move toCanada “We're pleased the court recognized the validity of leaguw rules and our ability to applyh them in a reasonable fashion," NHL Deputgy Commissioner Bill Daly said in a statement releasexd by the league on Mondagy night.
"We will turn our attention now towardf helping to facilitate an orderly sales process that will produce a local buyer who is committed to makingvthe Coyotes' franchise viablr and successful in the Phoenix/Glendale We are confident that we will be able to find such a buyerf for the Coyotes and that the claims of legitimatew creditors will be