Reinsdorf Makes Play To Buy NHL's Phoenix Coyotes

PHOENIX — A group led by Chicago Bulls and Chicago White Sox owner Jerry Reinsdorf has offered to buy the bankrupt Phoenix Coyotes for $148 million and keep the team in Arizona.

The offer, submitted in bankruptcy court documents on Friday afternoon, is $64.5 million less than the bid by Canadian billionaire Jim Balsillie, who wants to move the franchise to Southern Ontario.

Reinsdorf's offer calls for a new Jobing.com Arena lease with the city of Glendale and unspecified new agreements with other creditors, including the NHL, which has been funding the club.

Friday was the deadline set by Judge Redfield T. Baum for potential buyers who would keep the team in Arizona to submit purchase applications to the NHL.

Comments

[jayevans20]

He should sell the Bulls and the White Sox. He sucks as a owner.

[benji85]

Move them to Hamilton, the Leafs need the competition.

[47th]

The team would definitely not go bankrupt in Hamilton.

[BushBites]

Hockey in Arizona.

Wonder why it didn't sell?

heh, heh

[Mikeeee]

Another sports owner wanting to be subsidized by the taxpayers. Funny how we can give (welfare) millions to corporations and sports franchises, but talk about paying to give people Gov subsidized health care, horrors, that's socialism.