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NHL puts in bid to buy Coyotes
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Add the National Hockey League to the list of potential buyers of the Phoenix Coyotes.
Deputy commissioner Bill Daly said Tuesday that the league has put in a bid to buy the Coyotes' franchise out of bankruptcy.
"We remain supportive of the other efforts that have been and are being made to purchase and operate the Coyotes in Glendale, and we will continue to do everything we can to assist interested groups in those efforts leading up to the scheduled sale hearing on September 10, 2009 and thereafter, if the NHL is the winning bidder," Daly said.
Daly said the NHL made the bid to try to hasten the club's emergence from bankruptcy.
"The bankruptcy petition and subsequent events have been incredibly damaging to the Club’s business, and the sooner the Club can be extricated from the bankruptcy process, the sooner Club personnel can begin to restore the team’s vitality and local fan base, " Daly said.
Daly said that if the league is awarded the franchise, it will conduct a sale process to a third party buyer. The league has backed the bid of Chicago White Sox and Chicago Bulls owner Jerry Reinsdorf.
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