Four potential bidders have emerged to buy the National Hockey League Phoenix Coyotes franchise, the league told a US bankruptcy judge yesterday.
Current Coyotes owner Jerry Moyes sought bankruptcy for the team last month citing almost $400 million in losses and has expressed a desire to sell the team at auction.
“There are four expressions of interest [in the team]”, said NHL lawyer Shepard Goldfein. “We hope those expressions mature into offers.”
Jim Balsillie, co-chief executive officer of BlackBerry maker Research In Motion, has offered to pay $212 million for the franchise but move it to Canada, about 1,860 miles away from where it currently stands in Phoenix.
The judge said the case presents “unique” legal issues because it involves the relocation of a professional sports teams between countries.
The NHL is opposing the sale to Balsillie, saying the deal “would wreak havoc in the professional sports industry”.
