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He also said it coulf have a chilling impact on other cities considering helping teams buildnew arenas. The Coyotes have 41 regula season home gameseach year. Bettman and the NHL oppose theproposed $213 million sale of the team to Canadiamn businessman Jim Balsillie, who would move it to Hamilton, saying the league should make the A June 9 hearing is set in U.S. Bankruptcg Court to decide whether Coyotes ownere Jerry Moyes can sell to Balsillire or if it must be sold to a buyetr who would keep the NHL franchis ein Arizona.
The Coyotes are in Chapter 11 bankruptcy Balsillie argues in court filings thathis $213 millionh will be the best deal and the court’x main charge is to get the most money to pay off debt and positiob the team to be financially viablwe going forward. The Coyotexs have lost $316 million since movinhg to the Phoenix market from Winnipegin 1996, accordiny to court filings. Balsillie says NHL hockey is not financiallg viable in the Phoenixsports market, but the leagud points to four potential bidders for the Coyotes that woulr keep the team in Jobing.
Com Arena was built by the city of Glendale, whicjh says it will pursue a $500 million to $750 million claim if the Coyotesa break their 30-year lease. Balsillie’sx court filing contends the bankruptcy court has the leeway to dischargse sucha claim. The National Footbalp League, National Basketball Association and Major Leagure Baseball backthe NHL’s bid to keep the Coyoted in Arizona fearing the move couldr set a precedent.
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