Sunday, June 07, 2009

Four groups apply to keep Coyotes in the desert.

Well it looks like there are a few groups stepping forward to keep the troubled Coyotes in the Phoenix area. The group that is co-owners of the Canadian Football League's Toronto Argonauts, Howard Sokolowski and David Cynamon, should send warning signals as maybe an attempt to put a NHL franchise in southern Ontario, Canada. This is a mess and needs to be resolved quickly.

NHL Commissioner Gary Bettman says he has four potential buyers willing to keep the Coyotes in Glendale.

All four have submitted preliminary applications for league review, Bettman said in a Bankruptcy Court filing Friday.

The applicants include two previously reported possibilities: a group of investors that includes Chicago White Sox and Bulls owner Jerry Reinsdorf, and Coyotes minority owner John Breslow.

A third application was made by co-owners of the Canadian Football League's Toronto Argonauts, Howard Sokolowski and David Cynamon.

A fourth applicant is an unnamed Phoenix businessman, who requested anonymity pending due diligence, according to court documents.

The offers, combined with fan loyalty demonstrated by the Save the Coyotes group and a willingness from Glendale to participate in an "enhanced partnership" make relocation premature, Bettman said.

U.S. Bankruptcy Judge Redfield Baum on Tuesday is expected to hear arguments on relocation, as Coyotes owner Jerry Moyes seeks to have the court allow him to sell the team to Jim Balsillie for $212.5 million.

Balsillie's offer is contingent upon moving the team to Hamilton, Ontario. [NHL: 4 apply to keep Coyotes here]




BallHype: hype it up!

No comments:

Post a Comment