Kukla's Korner Hockey
Now What?
by Paul on 09/30/09 at 04:38 PM ET
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via the Twitter of Damien Cox,
Arizona bankruptcy judge denies BOTH Balsillie and NHL bids…...sheesh!
added 4:41pm, via Paul Waldie of the Globe and Mail,
Bankruptcy court judge Redfield T. Baum has rejected both bids for the Phoenix Coyotes.
“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.
“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],” the judge ruled.
added 5:47pm, Read the ruling if you wish, posted at CBC.
added 7:03pm,
NEW YORK (September 30, 2009)—Bill Daly, Deputy Commissioner of the National Hockey League, released the following statement regarding today’s ruling by Bankruptcy Court Judge Redfield T. Baum:
“We are pleased that the Bankruptcy Court has confirmed the League’s rights to select its owners and the location of its franchises. We are reviewing the opinion and considering how we can best address the Court’s concerns regarding our offer to purchase the Coyotes. It remains our goal to secure the long-term stability of the Coyotes in Glendale.”
Filed in: NHL Teams, Phoenix Coyotes | KK Hockey | Permalink
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