October 24, 2014
PHOENIX (AP) - Canadian billionaire Jim Balsillie says he's "one step closer" to bringing the Phoenix Coyotes to southern Ontario.
Balsillie made the statement on his Web site Wednesday, a day after a bankruptcy court hearing on his bid to buy the Coyotes and move them over the objections of the NHL.
Judge Redfield T. Baum indicated the NHL is entitled to a relocation fee, and if Balsillie balks at the fee as too high, his bid would evaporate. But Balsillie insists that although the fee is a "new development" it does "move us one step closer" to bringing the Coyotes to Hamilton, Ontario.