Today brought the news of the NHL’s Phoenix Coyotes filing for Chapter 11 bankruptcy protection. In addition, BlackBerry CEO Jim Balsille offered to purchase the Coyotes if he can move the club to Southern Ontario. Recent stories regarding the Coyotes have both the city of Glendale providing a rent break for the team and the NHL loaning the club money. I have posted two links regarding the bankruptcy and Balsille’s offer: one from ESPN for a US perspective and one from the Globe and Mail for the Canadian perspective.
Balsille has attempted to purchase NHL teams in the hope of moving them to Southern Ontario, which he thinks would be great market for an NHL team. The NHL owners in the past have rejected Balsille’s request to purcahse and move a team to Southern Ontario. With the Coyotes in bankruptcy protection, I do not know if the owners have the power they had in the past to block a purchase and move (if they so desire) or if the bankruptcy judge can approve the buy and move deal. Anybody know the answer?
