Moyes, NHL reach deal

[Mathew81]

http://sports.espn.go.com/nhl/news/story?id=4597478

PHOENIX -- Phoenix Coyotes owner Jerry Moyes has agreed to sell the bankrupt franchise to the NHL.
The agreement, which still must be approved by Judge Redfield T. Baum, was announced in U.S. Bankruptcy Court on Monday after attorneys met for more than an hour during a recess in a status hearing on the case.
Former coach Wayne Gretzky, who has a $22.5 million claim in the case, has not agreed to the deal.
Moyes' attorney says the decision to make a deal came largely because the expenses of running the team in bankruptcy were being paid from the league's $140-million offer. Moyes was left with few options after his attempt to sell the team to Canadian billionaire Jim Balsillie was rejected by the court.
NHL deputy commissioner Bill Daly says that once the deal closes, the league will immediately look to sell the team, preferably to an owner who will keep the club in Arizona.

 

[nooch]

Awesome news, heard this as well during the Rangers game. Lets hope for no snags and this goes through without problems.

 

[RugbyMuffin]

Does this mean the Yotes stay in AZ ? Or does it just mean the NHL will own the team and do what they want with it.

 

[nooch]

Does this mean the Yotes stay in AZ ? Or does it just mean the NHL will own the team and do what they want with it.

It means the NHL owns the team and will try to find a buyer. Ice Edge group looks to be the most interested at this point and they've said they'll keep the team here.

Another bidder such as Jerry Reinsdorf might resurface as well.

 

[puckhead]

It's official

Judge approves sale of Phoenix franchise to NHL

Monday, 11.02.2009 / 1:22 PM / News
NHL.com
U.S. Bankruptcy Court Judge Redfield T. Baum approved the sale of the Phoenix Coyotes Monday, transferring ownership to the NHL. The agreement was reached last Monday during a recess in court proceedings and needed Baum's approval to be final.

Link

Now let's see who wants to buy without the BK garbage.

 

[Bert]

Link

Now let's see who wants to buy without the BK garbage.

BK?

 

[puckhead]

BK?

Bankruptcy

Sorry, I must have typed that waaaay too many times this summer.