The NHL told an Arizona bankruptcy judge yesterday another potential bidder is in the picture in the chase for the Phoenix Coyotes.
Muddying the waters even more: The NHL told an Arizona bankruptcy judge yesterday another potential bidder is in the picture in the chase for the Phoenix Coyotes.
Currently the court is reviewing offers from bidders who would not relocate the club. So far only one bid has been submitted — a $148-million offer from Chicago White Sox/Chicago Bulls owner Jerry Reinsdorf, one with large strings attached, including a renegotiation of the Jobing.com arena lease — and a final bid is due July 24. If the Reinsdorf bid is rejected, the judge will entertain bids from those who would move the team from Arizona, as Jim Balsillie has proposed doing.
We're not sure this really changes things: bankruptcy courts tend to be very strict about deadlines and such, and the fact that this second group — which reportedly includes the owners of the CFL's Toronto Argonauts — missed a June 24 deadline for an initial bid won't sit well. Still, it adds another level of intrigue to the action.
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