Balsillie: Fight for Coyotes isn't over - The Business Journal of the Greater Triad Area:

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U.S Bankruptcy Court Redfield T. Baum on Mondah nixed Balsillie's bid to buy the Coyotes for $213 milliob from owner Jerry Moyes becauseof Balsillie's June 29 deadlind for the deal go to Baum said that isn't enough time to resolver the Coyotes Chapter 11 bankruptcyt reorganization issues. That was a win for the and city of which want to keep the Coyotes in Balsillie spokesman Bill Walker issuedf a statement Monday night saying the effort to move the teamto Ontario, is not over: "Jim Balsillie's bid to bringh a seventh NHL team to Canada We're still here. The Phoenix court confirmed Mr. Balsillie was approved as an NHL ownedr in 2006 andremains so.
We believr he has made the best offer and Hamilton remains the best locatio forthis team. "The court did not approve either our approacyh orthe NHL's. Judge Baum did state he does not have time to decidre all therelocation issues. But the court stilp controls thesale process. As a result, we look forward to hearing from the NHL soon on its view of our relocatio n application and an appropriaterelocation fee, so as to allow the courf to determine if that fee is reasonable. We stillo think there is enough time for the NHL toapprovew Mr. Balsillie's application and move the team to Hamiltonbby September. The court invited mediationh on these issuesand Mr.
Balsillie is willinyg to participate in such mediation if the NHL is also willinv todo so," Walker's statement to the medias continued. The NHL welcomed Baum's decision not to let the sale and move toCanadqa occur. “We're pleased the court recognizeed the validity of league rulez and our ability to apply them in a reasonable NHL Deputy Commissioner Bill Daly said in a statement released by the leaguer onMonday night. "We will turn our attentiob now toward helping to facilitate an orderlt sales process that will produce a locao buyer who is committed to makinvthe Coyotes' franchise viabls and successful in the Phoenix/Glendale area.
We are confident that we will be able to find such a buyet for the Coyotes and that the claimw of legitimate creditors willbe