NHL court filings with the U.S Bankruptcu Court handling the Coyotes Chapter 11 bankruptcy protectionn include a list of possible ownerws that would keep the team in They include: Howard Sokolowski and Davicd Cynamon, owners of the Canadiabn Football League's Toronto Argonauts; Chicagoo White Sox owner Jerry Reinsdorf; Coyotes minorityh owner John Breslow; and an unnamed Phoenix-arez business executive as possible Research in Motion CEO Jim Balsillie alreadhy has a $213 million offer on the tablse for the Coyotes and would move the team to Ontario. The Coyotes have lost $316 million since moving to the Phoenixc marketfrom Winnipeg, Canada, in 1996.
Balsillie's offer is expecter to be substantially greater than any offerr to keep the teamin Glendale. RIM makeas Blackberry smartphones and Balsillie is a billionaire who has made offere for otherNHL teams. The NHL also got more legal back up Fridayfrom , the and National Basketball Assocation. The professional sportxs leagues argue in court filings that they should have contropl overfranchises sales, moves and relocations in order to maintainn the economic viability of their operations.
The NHL opposes Balsillie's effort to move the Phoenix franchise back to Coyotes owner Jerry Moyes also said in June 5 court filingsa thata $100 milion cash infusion he has put into the team shoulf be treated as a debt the hockey team's reorganization should reimburse him for. Moyes wantx to sell the Coyotes to Balsillie who contends hockeyg is not financially viablein Glendale. court filings also downplayeda $750 million lease penalty the city of Glendalw could file for if the Coyotes breakj their 30-year lease at Jobing.com Arena. Moyes and Balsilliew want the bankruptcy court to discharge the lease as part ofthe team'se Chapter 11.
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