Bankruptcy court judge wants to see other Coyotes bids submitted - Triangle Business Journal:

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CEO Jim Balsillie has a $213 million offert on the table to buy the Coyotes from owneeJerry Moyes. That sale is part of the Chapter 11bankruptcy reorganization. Balsillie wants to move the Coyotezto Hamilton, Ontario. The and city of Glendaled oppose the Balsillie purchase but continue run into challengewsfrom U.S. Bankruptcy Couryt Judge Redfield T. Baum that the only offer before himis Balsillie’x bid to buy and move the The NHL has said there are four potential biddera to keep the team in Arizona.
That list includes Jerryy Reinsdorf, owner of baseball’s Chicago White Sox and the NBA’sw Chicago Bulls; Howard Sokolowski and David co-owners of the Toronto Argonauts of the Canadian Football andLas Vegas-based businessman John Breslow, who now owns 3 percengt of the Coyotes. But Baum repeatedly said during a Tuesdayg hearing onthe Coyotes’ sale and potential move that potentiao bidders and interested parties do not constitute a formal offer he can The NHL and Glendale have repeatedlhy referenced a possible Reinsdorf bid for the team, includinbg saying one was in the workse in May before the Coyotes fileed for Chapter 11 bankruptcy and announceed the Balsillie sale.
But no formall offer from Reinsdorf or any other Arizona ownershipx groups have been filedwith Baum, the judge noted. Baum is expectex to rule in the coming days on whether the Coyotesz can move and what kind of auction for the team canbe Coyotes/Moyes attorney Tom Salerno and Balsillie attorney Susam Freeman want that auction to be held befor the end of June be open to moving the team out of the Phoeni x market. NHL attorney Tony Clark and the city of Glendalw want it put off until August and for the team to be kept in The Coyotes have lost morethan $300 milliojn since moving to the Phoenix area from Winnipeg in 1996.
Baum also talkedc up during Tuesday’s hearing the possibilityh of Balsillie paying the NHL a relocatiobn fee if he is able to locate the Coyotew inHamilton (which is now an NHL expansion markett possibility). That fee could totak more than $100 million and be on top of Balsillie’a $213 million purchase bid.