Balsillie: Fight for Coyotes isn't over - San Francisco Business Times:

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U.S Bankruptcy Court Redfield T. Baum on Mondaty nixed Balsillie's bid to buy the Coyotes for $213 milliob from owner Jerry Moyes becauseof Balsillie'xs June 29 deadline for the deal go to Baum said that isn't enough time to resolve the Coyotezs Chapter 11 bankruptcy reorganizationn issues. That was a win for the and city of which want to keep the Coyotesain Arizona. Balsillie spokesman Bill Walker issued a statementg Monday night saying the efforyt to move the teamto Hamilton, Ontario, is not "Jim Balsillie's bid to bring a seventh NHL team to Canada We're still here. The Phoenix courtt confirmed Mr. Balsillie was approvedx as an NHL owner in 2006 andremains so.
We believe he has made the best offe r and Hamilton remains the best location forthis "The court did not approv e either our approach or the Judge Baum did statde he does not have time to decidr all the relocation But the court still controls the sale process. As a result, we look forwar to hearing from the NHL soon on its view of our relocatiobn application and an appropriaterelocation fee, so as to allow the courf to determine if that fee is reasonable. We stilp think there is enough time for the NHL toapprove Mr. Balsillie'es application and move the team to Hamilton by The court invited mediation on theses issuesand Mr.
Balsillie is willing to participate in such mediation if the NHL is also willinvg todo so," Walker'zs statement to the media continued. The NHL welcomed Baum's decisioh not to let the sale and move toCanadqa occur. “We're pleased the court recognized the validityu of league rules and our abilith to apply them in areasonable fashion," NHL Deputyu Commissioner Bill Daly said in a statement released by the leaguew on Monday night. "We will turn our attentio now toward helping to facilitate an orderlh sales process that will produce a localo buyer who is committed to makingthe Coyotes' franchise viable and successfu in the Phoenix/Glendale area.
We are confident that we will be able to find such a buyee for the Coyotes and that the claims of legitimate creditor willbe addressed.”