Bankruptcy court rejects Coyotes bids, but holds out hope for NHL

After months of back-and-forth disputes over who would ultimately obtain control of the Phoenix Coyotes franchise, Judge Redfield T. Baum turned down both bids by the National Hockey League and Canadian billionaire Jim Balsillie on Wednesday.

"In hockey parlance, the court is passing the puck to the NHL, who can decide to take another shot at the sale net or it can pass off the puck," Judge Baum wrote on Wednesday.

Balsillie said he would not appeal the decision. In a statement, Balsillie said, "nobody can deny that we are now a big step closer to having a seventh NHL team in Canada. It doesn't matter who owns that team. When that day comes, I will be the first in line to buy a ticket to the home opener.


Garry Bettman and Jim Balsillie

"I want to take this opportunity to thank my family for all their love and support. I also want to thank the more than 200,000 fans who supported the bid online and the countless others who contacted me personally to show their support. This bid always was about the game we all love," said Balsillie.

Judge Baum threw out the $242.5 million (US) bid by Balsillie, saying it could not work because he could not properly satisfy the NHL's rights regarding relocation. "In the final analysis, the court cannot find or conclude that the interests of the NHL can be adequately protected if the Coyotes are moved to Hamilton without first having a final decision regarding the claimed rights of the NHL and the claims of the debtors and (Balsillie)," he ruled.