Kukla's Korner Hockey
Entries with the tag: Jerry+Moyes
NHL Sues Jerry Moyes
by Paul on 03/05/10 at 09:01 PM ET
Comments (8)
from Reuters,
The National Hockey League on Friday sued former Phoenix Coyotes owner Jerry Moyes, seeking to recover more than $61 million over the trucking magnate’s management of the struggling franchise….
The NHL filed its lawsuit with the New York State Supreme Court in Manhattan, where the league is based.
It accused Moyes of violating an agreement he had entered with the league by refusing to fund the Coyotes’ obligations; secretly entering sale talks with Balsillie, who hoped to move the team to Hamilton, Ontario; and filing a bankruptcy petition to accomplish that sale without league approval.
According to the complaint, the NHL is seeking $30 million for violations of the agreement, $10 million for aiding and abetting violations of the Coyotes’ fiduciary duty to the league, $10 million of punitive damages, and $11.6 million to cover amounts that the NHL paid to Coyotes creditors.
Filed in: NHL Teams, Phoenix Coyotes | KK Hockey | Permalink
Tags: Jerry+Moyes,
Moyes Getting Out Of Town
by Paul on 08/04/09 at 01:15 PM ET
Comments (3)
via Ernie Larson of BlockShopper Phoenix,
Jerry Moyes and his wife, Vickie, have listed for sale a four-bedroom, 2.5-bath home at 4711 E. Pablo Verde Dr. in Camelback East for $985,000.
Mr. and Mrs. Moyes paid $1.295 million for the property in Dec. 2007. The 2,719-square-foot home was built in 1976 in the Heritage Hills subdivision.
Filed in: NHL Teams, Phoenix Coyotes | KK Hockey | Permalink
Tags: Jerry+Moyes,
Coyotes Owner Speaks-Out On Reinsdorf Bid
by Paul on 06/29/09 at 09:04 PM ET
Comments (0)
from Rebekah L. Sanders of the Arizona Republic,
Coyotes owner Jerry Moyes is blasting the latest bid for his bankrupt team as illegitimate.
Chicago sports mogul Jerry Reinsdorf and Valley attorney John Kaites together recently offered $148 million to keep the NHL team playing in Glendale.
Moyes says it appears to be a no-cash bid that would assume $118.5 million in secured debt but would fail to pay creditors….
Moyes points out that the new Reinsdorf bid requires renegotiation of contracts with Glendale and the other vendors, an arm-twisting approach Moyes was unable to accomplish before turning to bankruptcy.
“The current structure of our agreements with Glendale and other parties is a money loser no matter how well the team plays,” Moyes said in a statement. “Simply put, the Reinsdorf bid wants to only assume the team’s debt and then restructure all agreements, which is what I have been trying to do for the last year.”
read on
Filed in: NHL Teams, Phoenix Coyotes | KK Hockey | Permalink
Tags: Jerry+Moyes, Jerry+Reinsdorf,
Coyotes & NHL Agree on Ongoing Operations
by Alanah McGinley on 05/25/09 at 03:07 PM ET
Comments (9)
From David Shoalts at the Globe & Mail:
The NHL and Phoenix Coyotes owner Jerry Moyes have essentially agreed on how the team will be operated on a day-to-day basis as a result of court-ordered mediation.
Both sides will be able to tell U.S. Bankruptcy Court Judge Redfield T. Baum at a hearing on Wednesday that the once-contentious issue of who controls the team has been resolved. It is expected that the league will continue to finance the team’s operation until a buyer is found.
There is one source of conflict remaining – the timeline of the bankruptcy petition, sale of the team and its possible relocation. The Moyes camp wants it done quickly so that the winning bidder, be it Jim Balsillie and his $212.5-million (all currency U.S.) offer or anyone else, can move the team by the start of the season this fall and avoid another year of $40-million-plus losses in Phoenix. The NHL remains adamant that is much too soon for a move for various reasons, including their procedures for allowing a franchise to move and logistical problems with the schedule.
Update 9:03pm ET: On a related note from TSN—
Jim Balsillie has formally asked other NHL owners to let him into the club.
The Canadian billionaire filed an application with the league’s board of governors seeking a transfer of the Phoenix Coyotes ownership interest, one of his representatives confirmed Monday.
Filed in: NHL Teams, Phoenix Coyotes, NHL Talk, NHL Business of Hockey | KK Hockey | Permalink
Tags: jerry+moyes,
