Post by snarks on Jun 6, 2009 16:47:02 GMT -5
Argo owners among potential Coyotes buyers
By THE CANADIAN PRESS
According to a court filing, the owners of the Toronto Argonauts are amongst the four potential buyers of the Phoenix Coyotes. (Dave Abel/SUN MEDIA)
PHOENIX - The owners of the CFL's Toronto Argonauts are among four potential buyers that have expressed an interest in purchasing the Coyotes and keeping them in Phoenix, NHL commissioner Gary Bettman said in a court filing.
Howard Sokolowski and David Cynamon have sent the league one of the four preliminary applications to buy the troubled club, and each has "indicated an interest in operating the franchise in Phoenix," according to Bettman's declaration filed with an Arizona bankruptcy court.
The other applicants are: Chicago White Sox owner Jerry Reinsdorf and John Kaites; Coyotes minority owner John Breslow; and a Phoenix businessman who requested anonymity pending the NHL's due diligence.
Bettman's declaration was part of the filing briefs submitted ahead of a midnight Friday deadline by the league, current Coyotes owner Jerry Moyes and Jim Balsillie, who is trying to buy the team out of bankruptcy for US$212.5 million and move it to Hamilton.
Judge Redfield T. Baum will hear the case Tuesday and decide if Balsillie can indeed buy and move the team despite the NHL's objections.
In his brief, Balsillie argues that the Coyotes are worth far more if they can be moved rather than kept in Phoenix, offering a greater return for the team's creditors.
Just another reason to hate the Argonauts.
By THE CANADIAN PRESS
According to a court filing, the owners of the Toronto Argonauts are amongst the four potential buyers of the Phoenix Coyotes. (Dave Abel/SUN MEDIA)
PHOENIX - The owners of the CFL's Toronto Argonauts are among four potential buyers that have expressed an interest in purchasing the Coyotes and keeping them in Phoenix, NHL commissioner Gary Bettman said in a court filing.
Howard Sokolowski and David Cynamon have sent the league one of the four preliminary applications to buy the troubled club, and each has "indicated an interest in operating the franchise in Phoenix," according to Bettman's declaration filed with an Arizona bankruptcy court.
The other applicants are: Chicago White Sox owner Jerry Reinsdorf and John Kaites; Coyotes minority owner John Breslow; and a Phoenix businessman who requested anonymity pending the NHL's due diligence.
Bettman's declaration was part of the filing briefs submitted ahead of a midnight Friday deadline by the league, current Coyotes owner Jerry Moyes and Jim Balsillie, who is trying to buy the team out of bankruptcy for US$212.5 million and move it to Hamilton.
Judge Redfield T. Baum will hear the case Tuesday and decide if Balsillie can indeed buy and move the team despite the NHL's objections.
In his brief, Balsillie argues that the Coyotes are worth far more if they can be moved rather than kept in Phoenix, offering a greater return for the team's creditors.
Just another reason to hate the Argonauts.