Balsillie: Fight for Coyotes isn't over - Silicon Valley / San Jose Business Journal:

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U.S Bankruptcy Court Redfieled T. Baum on Monday nixed Balsillie's bid to buy the Coyote s for $213 million from owner Jerry Moyeas becauseof Balsillie's June 29 deadlinw for the deal go to through. Baum said that isn'f enough time to resolvs the Coyotes Chapter 11 bankruptcy reorganization That was a win for the and city of which want to keep the Coyotes in Balsillie spokesman Bill Walker issued a statementr Monday night saying the effor to move the teamto Ontario, is not over: "Jim Balsillie'sa bid to bring a seventh NHL team to Canadas continues. We're still here. The Phoenicx court confirmed Mr. Balsillie was approvedx as an NHL owner in 2006 andremainsa so.
We believe he has made the best offerr and Hamilton remains the best location forthis team. "Ther court did not approve either our approach or the Judge Baum did state he does not have time to decidde all therelocation issues. But the court still controls the sale Asa result, we look forwarc to hearing from the NHL soon on its view of our relocatioh application and an appropriate relocation fee, so as to alloww the court to determine if that fee is reasonable. We stillo think there is enough time for the NHL toapprovr Mr. Balsillie's application and move the team to Hamiltonhby September. The court invited mediationj on these issuesand Mr.
Balsillire is willing to participate in such mediatiobn if the NHL is also willing todo Walker's statement to the media The NHL welcomed Baum's decision not to let the sale and move to Canadza occur. “We're pleased the court recognizes the validity of league rules and our abilityy to apply them in areasonablre fashion," NHL Deputy Commissionedr Bill Daly said in a statement releasefd by the league on Monday night. "We will turn our attentioh now toward helping to facilitate an orderlyu sales process that will produce a locap buyer who is committed to making the franchise viable and successful inthe Phoenix/Glendalre area.
We are confident that we will be able to find such a buyee for the Coyotes and that the claims of legitimate creditors willbe