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Bankruptcy judge rejects both bids to buy Coyotes

Bankruptcy judge rejects both bids to buy Coyotes

Credit: AP

FILE - In this Oct. 25, 2008, file photo, Phoenix Coyotes head coach Wayne Gretzky watches the scoreboard as his team falls behind against the Calgary Flames during the first period of an NHL Hockey game in Glendale, Ariz. Gretzky is stepping down as Coyotes head coach and director of hockey operations. (AP Photo/Aaron J. Latham, File)

by The Associated Press

azfamily.com

Posted on October 1, 2009 at 1:02 PM

Updated Thursday, Oct 1 at 1:06 PM

PHOENIX  -- The NHL could claim a partial victory after a U.S. bankruptcy judge rejected bids by the league and Canadian billionaire Jim Balsillie to purchase the Phoenix Coyotes.

Judge Redfield T. Baum yesterday rejected outright Balsillie's offer to purchase the team and move it to Hamilton, Ontario, which
the NHL had vehemently opposed.

The judge upheld the league's right to decide who owns its teams and where they play.

Although Baum also turned down the NHL offer, he left the door open for the league to go ahead and purchase the franchise if it amends its bid to treat Coyotes owner Jerry Moyes and ex-coach Wayne Gretzky more favorably.

The ruling came on the eve of the start of the NHL season and after nearly five months of bitter legal wrangling with Balsillie and Moyes on one side and the NHL and the city of Glendale, where the team plays, on the other.

Balsillie said he would not appeal.
 

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