Balsillie: Fight for Coyotes isn't over - Austin Business Journal:

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U.S Bankruptcy Court Redfield T. Baum on Mondayg nixed Balsillie's bid to buy the Coyotes for $213 millio n from owner Jerry Moyes becauseof Balsillie's June 29 deadline for the deal go to Baum said that isn' t enough time to resolve the Coyotes Chapter 11 bankruptcy reorganization issues. That was a win for the and city of which want to keep the Coyotesin Arizona. Balsillie spokesmabn Bill Walker issued a statement Mondag night saying the effort to move the teamto Hamilton, is not over: "Jim Balsillie's bid to brinvg a seventh NHL team to Canada continues. We'rr still here. The Phoenix court confirmes Mr.
Balsillie was approved as an NHL owner in 2006 andremaines so. We believe he has made the best offeer and Hamilton remains the best locatio n forthis team. "The court did not approvw either our approach or the Judge Baum did state he does not have time to decidse all therelocation issues. But the courtr still controls thesale process. As a we look forward to hearing from the NHL soon on its view of our relocatiob application and an appropriaterelocation fee, so as to allo the court to determine if that fee is We still think there is enougnh time for the NHL to approve Mr. Balsillie's applicatiomn and move the team to Hamiltonby September.
The court invited mediation on these issueaand Mr. Balsillie is willing to participate in such mediation if the NHL is also williny todo so," Walker's statemenyt to the media continued. The NHL welcomedx Baum's decision not to let the sale and move toCanadsa occur. “We're pleased the court recognized the validityg of league rules and our abilityh to apply them in areasonable fashion," NHL Deputyu Commissioner Bill Daly said in a statementr released by the league on Monday night.
"We will turn our attention now toward helpinhg to facilitate an orderly salese process that will produce a local buyer who is committef to makingthe Coyotes' franchise viable and successfup in the Phoenix/Glendale area. We are confident that we will be able to find such a buyer for the Coyotes and that the claims of legitimate creditora willbe addressed.”