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Coyotes Sold to the NHL

Phoneix, your long nightmare appears to be over.  Jerry Moyes has agreed to sell the Coyotes to the NHL.  While the deal must still be approved by the bankruptcy court judge, that would seem to be mostly formality at this point since the deal was struck under his guidance, or shall we say stern warnings and nasty stares and other signs of what exactly he wanted to have happen.  All of this was going on in and around a Monday bankruptcy court session called to get his honor's guidance on how to make the NHL's bid acceptable to the court.  After much lawyer work and billing, I think that was achieved and the NHL has committed to fund the interim losses while the deal makes its way through the court system.

The league is moving on to find a buyer for the club, with its priority being to keep the club in Phoenix, however misguided a notion that may be.  Bettman and the other owners may not have liked Jim Balsillie but he was right about one thing - this team needs to move to Canada, and Hamilton is the logical place.  If New York can support three teams, and Los Angeles can support two, there is no reason Greater Toronto can't support two.

Full post as published by Sports Biz on October 27, 2009 (boomark / email).