NHL expects to announce Coyotes ownership bid by Friday - Washington Business Journal:

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The NHL says it will tell U.S. Bankruptcy Court Judge Redfield T. Baum by Friday “whetherr or not there is a local buyer for the according to afiling “If not, the NHL can undertake an orderlyt sale of the club to a bidder that wouldf relocate the club for the 2010-11 the league said. The NHL’s June 22 court filingg also says Canadian billionaire Jim Balsillie can buy the Coyotes if he agree s to keep themin Glendale. Balsillis put forward a $213 million offerf to buy the Coyotes, but wants to move them to Ontario. The move is opposed by the NHL, but supportedc by team owner Jerry Moyes.
Baum shot down the Research inMotionm CEO’s initial bid to buy the Coyotes because of its June 29 Balsillie amended that offer, saying he would buy the team in September and move it to Hamilton for the 2010-11 The Coyotes are in Chapter 11 Bankruptcy reorganizatioh and the NHL and city of Glendale are trying to find an owned to buy the team from Phoenix businessmabn Moyes. The NHL has identifief four possible ownership groups to keep the team in Howard Sokolowski andDavid Cynamon, ownerx of the Canadian Football League’s Toronto Argonauts; Chicago White Sox and Chicago Bulls owner Jerry Reinsdorf; Coyotes minority owner John and an unnamed Phoenix-area business executive.
Therde is speculation among officials familiar with the Coyotea situation an ownership group could involve the Maloof which owns the NationalBasketball Association’s Sacramenti Kings. The NHL has stressed its commitment to keeping the Coyote s in thePhoenix market, but therse is speculation in Canadian media and sport circles that even if the league stops Balsillie from buying the Coyotes another ownership group could move the team to another market within severapl seasons. Toronto, for example, has been trying to recruit a seconrd team to go alongg with the TorontoMaple Leafs. Mediq reports also have mentioned Las Vegas for a possiblerCoyotes move.
The Coyotes lost more than $300 milliob since moving to the Phoenix market in 1996from Winnipeg.