August 29, 2014
SCOTTSDALE, Ariz. (AP) - The NHL believes Jerry Reinsdorf can succeed where Jerry Moyes failed as owner of the financially ailing Phoenix Coyotes.
Reinsdorf, the owner of baseball's Chicago White Sox and the NBA's Chicago Bulls, has offered $148 million to buy the Coyotes out of Chapter 11 bankruptcy and keep the team in Glendale, a suburb west of Phoenix. The offer is $64.5 million less than the bid by Canadian billionaire Jim Balsillie, who wants to move the franchise to Southern Ontario.
In the NHL's first public comments on Reinsdorf's offer, deputy commissioner Bill Daly expressed optimism that bankruptcy Judge Redfield T. Baum would approve Reinsdorf's bid even though it is far less than Balsillie's.
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