PHOENIX — Canadian billionaire Jim Balsillie and NHL commissioner Gary Bettman are in U.S. bankruptcy court awaiting a key decision on the future of the Phoenix Coyotes.
Judge Redfield T. Baum will decide today if Balsillie can participate in a Sept. 10 auction for the NHL club, even though the league has rejected his bid to purchase the franchise.
Balsillie has offered to pay US$212.5 million for the Coyotes. The bid is contingent on moving the team to Hamilton.
The NHL — which favours keeping the franchise in Phoenix for the time being — has bid 140 million dollars U-S.
Another group of American and Canadian businessmen are also interested in buying the team.