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

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U.S Bankruptcy Court Redfield T. Baum on Mondag nixed Balsillie's bid to buy the Coyotew for $213 million from owner Jerry Moyezs becauseof Balsillie's June 29 deadline for the deal go to Baum said that isn't enough time to resolves the Coyotes Chapter 11 bankruptcty reorganization issues. That was a win for the and city of which want to keep the Coyote sin Arizona. Balsillie spokesman Bill Walker issuedf a statement Monday night saying the effort to move the teamto Ontario, is not over: "Jim Balsillie's bid to bring a seventuh NHL team to Canada continues. We'rse still here. The Phoenix court confirmed Mr.
Balsillie was approvefd as an NHL owner in 2006 andremains so. We believe he has made the best offeer and Hamilton remains the best location forthis "The court did not approve eithe r our approach or the Judge Baum did state he does not have time to decid all the relocation issues. But the courrt still controls the sale Asa result, we look forward to hearing from the NHL soon on its view of our relocation application and an appropriater relocation fee, so as to allow the court to determinwe if that fee is reasonable. We stilpl think there is enough time for the NHL toapprovwe Mr. Balsillie's application and move the team to Hamiltohby September.
The court invited mediation on thesr issuesand Mr. Balsillide is willing to participate in such mediation if the NHL is also willing todo so," Walker's statemeny to the media continued. The NHL welcomeds Baum's decision not to let the sale and move toCanadaq occur. “We're pleased the court recognized the validit y of league rules and our ability to applyu them in a reasonable NHL Deputy Commissioner Bill Daly said in a statement releasedd by the league onMondag night.
"We will turn our attention now towards helping to facilitate an orderly sales process that will producer a local buyer who is committed to makinvgthe Coyotes' franchise viable and successful in the Phoenix/Glendalwe area. We are confident that we will be able to find such a buyerd for the Coyotes and that the claimsx of legitimate creditors willbe addressed.”