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Judge Trying To Speed Up Process In Phoenix
by Paul on 05/27/09 at 01:16 PM ET
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from Kevin McGran of the Toronto Star,
Reacting to the real possibility that billionaire Jim Balsillie might withdraw his $212.5 million offer for the Phoenix Coyotes, bankruptcy court judge Redfield Baum acted today to speed up court hearings.
The judge ordered all parties to file their legal arguments on relocation by June 5 with a hearing set for June 9 – 13 days sooner than the June 22 date he’d previously set.
The judge interrupted arguments over when the Coyotes auction might be held, calling the relocation issue “the 10,000 pound elephant in the room.”
added 2:04pm, Tripp Mickle of SportsBusiness Journal is Twittering the court proceedings today if you are interested.
added 4:18pm, from the Globe and Mail,
A U.S. bankruptcy court judge has temporarily ended the dispute over who controls the Phoenix Coyotes by putting the current owners largely in charge.
Judge Redfield Baum has ruled that three executives of the current ownership group, led by Jerry Moyes, will run the team on a day-to-day basis. Moyes’s group and the National Hockey League will also appoint one person as a “point person” who will review the finances on a weekly basis. If the two point persons can’t agree on something, either one can bring the issue to court.
Filed in: NHL Teams, Phoenix Coyotes, NHL Talk, NHL Business of Hockey | KK Hockey | Permalink
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