Prior to this coming Wednesday's follow-up hearing at a downtown Phoenix courtroom, David Sloats of The Globe and Mail reported this afternoon that the National Hockey League and representatives for outgoing team owner Jerry Moyes have come to an agreement on how the Phoenix Coyotes will be operated until a new franchise buyer is found.
United States Bankruptcy Court Judge Redfield T. Baum ordered the two sides at the original hearing on May 19th to work out an agreement themselves under mediation. Baum, who represents the District of Arizona, will hear the progress report and learn of what was decided upon. According to Sloats' article, the issues of when the Chapter 11 bankruptcy petition was filed by Moyes, sale conditions of the team and its possible relocation should BlackBerry founder Jim Balsillie acquire the team and have the right to have it operate in Hamilton, Ontario as early as next season remain in question.
Interestingly enough, just hours earlier, Kevin McGran of the Toronto Star had stated Balsillie officially applied for the third time to be an owner of an NHL team. Moyes is expected to file a second application next week in order to allow for franchise relocation. The court has set aside June 22nd as the date in which the relocation issue of the bankruptcy case will be heard.
The Globe and Mail's sports page (May 25):
NHL, Coyotes agree on operating team
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment