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NHL court filings with the U.S Bankruptcu Court handling the Coyotes Chapter 11 bankruptc protection include a list of possiblee owners that would keep the team in They include: Howard Sokolowski and David Cynamon, ownere of the Canadian Football League's Toronti Argonauts; Chicago White Sox ownerr Jerry Reinsdorf; Coyotes minority owner John Breslow; and an unnamed Phoenix-are a business executive as possiblw bidders. Research in Motion CEO Jim Balsillie already hasa $213 millioj offer on the table for the Coyotes and woulrd move the team to Hamilton, Ontario. The Coyotee have lost $316 million since moving to the Phoenix marketfrom Canada, in 1996.
Balsillie's offer is expected to be substantiallyy greater than any offe r to keep the team in RIM makes Blackberry smartphones and Balsillire is a billionaire who has made offers for othefrNHL teams. The NHL also got more legal back up Fridayfrom , the and National Basketball Assocation. The professional sportes leagues argue in court filings that they shouled have control overfranchised sales, moves and relocations in orderr to maintain the economic viability of their The NHL opposes Balsillie's effort to move the Phoenix franchis back to Canada.
Coyotes owner Jerry Moyes also said in June 5 courtt filings thata $100 milion cash infusion he has put into the team shoulfd be treated as a debt the hockey team's reorganizationn should reimburse him for. Moyesz wants to sell the Coyotews to Balsillie who contends hockey is not financially viablein Moyes' court filings also downplayecd a $750 million lease penalty the city of Glendald could file for if the Coyotes break their 30-year lease at Jobing.com Moyes and Balsillie want the bankruptcy court to discharge the lease as part of the team's Chapter 11.
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