Judge Delays Ruling in Coyotes Bankruptcy Case, Says He Needs More Time to Examine Documents
Categories: Sports
U.S. bankruptcy judge Redfield Baum did not make a ruling today in the case that will determine the future of the Phoenix Coyotes. Baum says he needs more time to examine hundreds of documents filed late last night, and he also says both sides in the case have made contradictory statements in court filings.
On one side: Coyotes majority owner Jerry Moyes, who announced that he filed bankruptcy on May 5, and Canadian billionaire Jim Balsillie, who made a $212.5 million offer to buy the Phoenix Coyotes the same day. Balsillie plans to move the Coyotes to Ontario if he's able to purchase the team.
On the other side: National Hockey League Commissioner Gary Bettman, who asserts he assumed control of the Coyotes in November, 2008, after giving the team a substantial line of credit. Also in this corner: the city of Glendale, which filed court documents stating that any relocation of the team would violate a clause in the Coyotes' 30-year lease at Jobing.com arena.
Judge Baum said more than 600 pages of documents were filed by the parties in the case, and he needs more time to sift through them before deciding who controls the Phoenix Coyotes.
On one side: Coyotes majority owner Jerry Moyes, who announced that he filed bankruptcy on May 5, and Canadian billionaire Jim Balsillie, who made a $212.5 million offer to buy the Phoenix Coyotes the same day. Balsillie plans to move the Coyotes to Ontario if he's able to purchase the team.
On the other side: National Hockey League Commissioner Gary Bettman, who asserts he assumed control of the Coyotes in November, 2008, after giving the team a substantial line of credit. Also in this corner: the city of Glendale, which filed court documents stating that any relocation of the team would violate a clause in the Coyotes' 30-year lease at Jobing.com arena.
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