PHOENIX — A U.S. Bankruptcy Court judge has expanded bidding for the Coyotes to include potential buyers who would move the team.
Judge Redfield T. Baum ruled Wednesday that all bids, those to keep the team in Arizona or to move it elsewhere, would be accepted for the Sept. 10 auction.
He specifically said the $212.5 million offer from Canadian billionaire Jim Balsillie would be considered. That sets up another showdown between Balsillie and the NHL, because the league’s board of governors has unanimously rejected him as an owner.
Balsillie’s bid is contingent on moving the team to Hamilton, Ontario.
Balsillie spokesman Bill Walker praised the judge for creating a “fair and transparent” sales process.
“It’s the best outcome for creditors and for the future of the franchise,” Walker said. “We think Jim Balsillie’s bid will emerge the winner because it offers the best financial terms and the best market in Hamilton, where hockey fans are thirsting for this team.”
But Balsillie’s bid faces several major hurdles.
The NHL has made it clear it doesn’t want Balsillie as an owner, and the league hasn’t ruled on whether it would allow the team to move or what fees would be included to enter territory now claimed by the Maple Leafs and Sabres.
Additionally, Baum has not ruled whether Balsillie can escape the lease the Coyotes have with the city of Glendale, Ariz., to play at Arena.
Baum scheduled a hearing for Tuesday to consider issues that have been raised by his ruling.
Balsillie’s bid is by far the biggest.
A group headed by Jerry Reinsdorf — owner of baseball’s Chicago White Sox and the NBA’s Chicago Bulls — has offered $148 million to buy the team and keep it in Glendale but is still working out details with the city and other creditors.
A third group known as Ice Edge, headed by Canadian and American investors, told the court it intends to submit a bid of about $150 million but was still gathering financing.
Devils sign Shanahan
NEWARK, N.J. — Brendan Shanahan, a 40-year-old forward, signed a one-year deal with the Devils, keeping him with the team that drafted him second overall in 1987.
Shanahan will be entering his 22nd NHL season, after rejoining the Devils in January and recording six goals and eight assists in 34 regular-season games. He has 656 goals and 698 assists in 1,524 games.
Footnotes.
Defenseman Teppo Numminen announced his retirement after 20 seasons in the NHL, saying “playing hockey in the NHL and also for my country, Finland, was very enjoyable.” In 1,372 career games, he recorded 117 goals and 520 assists.
• The Canucks signed right wing Jannik Hansen to a one-year, two-way contract.
The Associated Press
