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AUCTION RESCHEDULED FOR SEPT. 10

Monday, 08.03.2009 / 3:39 PM / News
By Dave Vest
Per the NHL's request and without objection, U.S. Bankruptcy Court Judge Redfield T. Baum on Monday delayed the non-relocation auction for the Coyotes from Wednesday until Sept. 10 at 9 a.m.

"We're pleased the court and all parties are in agreement to give every opportunity for bids to keep the team in Glendale," NHL Deputy Commissioner Bill Daly told reporters after Monday's proceedings. "The extra month will help."

A lawyer for the league began a nearly two-hour emergency hearing in downtown Phoenix by asking Baum to reschedule the non-relocation auction so the two groups who have expressed interest in buying the team and keeping it in Arizona can have more time to finalize details of their bids. The NHL also asked that the plan for a non-relocation auction, originally set for Sept. 10, be abandoned.

Judge Baum did not abandon the plan for a second auction for bidders wanting to relocate the team but he stopped short of setting a new date for it. The previous date for it was Sept. 10. Instead, Baum mused that one auction open to non-relocation and relocation bids might be a better course of action rather than two auctions. He is expected to rule on the matter by Wednesday.

Currently, there is one local offer - a $148 million bid by a group headed by Jerry Reinsdorf, owner of baseball's Chicago White Sox and the NBA's Chicago Bulls. Another local offer is being prepared by Ice Edge Holdings.

Canadian businessman Jim Balsillie has offered $212.5 million to move the team to Hamilton, Ontario. Last week, however, the NHL's Board of Governors unanimously rejected Balsillie's application to buy the Coyotes.

Meanwhile, an attorney for the City of Glendale on Monday voiced strong displeasure with owner Jerry Moyes' camp for publicly revealing, via court filings, sensitive details of one of the non-relocation bids. Judge Baum did not immediately address the situation, at least publicly.

 
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