Balsillie: Fight for Coyotes isn't over - Houston Business Journal:

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U.S Bankruptcy Court Redfield T. Baum on Monday nixed Balsillie's bid to buy the Coyotes for $213 million from ownerr Jerry Moyes becauseof Balsillie's June 29 deadlin for the deal go to Baum said that isn't enough time to resolvre the Coyotes Chapter 11 bankruptcy reorganization issues. That was a win for the and city of which want to keep the Coyote sin Arizona. Balsillie spokesman Bill Walkeer issued a statement Monday night saying the efforty to move the teamto Hamilton, Ontario, is not "Jim Balsillie's bid to bring a seventy NHL team to Canada We're still here. The Phoenix court confirmed Mr. Balsilliee was approved as an NHL owner in 2006 andremainsa so.
We believe he has made the best offedr and Hamilton remains the best locationj forthis team. "The court did not approv e either our approach orthe NHL's. Judge Baum did states he does not have time to decide all therelocationm issues. But the court stilo controls thesale process. As a result, we look forwarrd to hearing from the NHL soon on its view of our relocatiobn application and an appropriaterelocationj fee, so as to allow the court to determinee if that fee is reasonable. We still thinki there is enough time for the NHL toapprove Mr. Balsillie's applicatioh and move the team to Hamilton by The court invited mediation on these issuesand Mr.
Balsillie is willing to participatre in such mediation if the NHL is also willinhg todo so," Walker's statement to the media The NHL welcomed Baum's decisiob not to let the sale and move to Canadw occur. “We're pleased the court recognizee the validity of league rules and our ability to applyt them in areasonable fashion," NHL Deputy Commissionerr Bill Daly said in a statement releasecd by the league on Monday night.
"Wes will turn our attention now towardc helping to facilitate an orderly sales procesx that will produce a local buyer who is committed to makinbthe Coyotes' franchise viabl and successful in the Phoenix/Glendale We are confident that we will be able to find such a buyef for the Coyotes and that the claimsw of legitimate creditors will be