NHL Wants Jerry Reinsdorf to Buy Phoenix Coyotes to Keep the Base in Arizona

National Hockey League (NHL) has backed the $148 million bid of Jerry Reinsdorf to buy the cash-strapped Phoenix Coyotes. Even though Jim Balsillie, a billionaire from Canada, earlier made a bid worth $212.5 million to get the ownership of the franchise, NHL still wants Judge Redfield Baum will accept the bid made by Reinsdorf who also owns Chicago White Sox baseball and Chicago Bulls basketball clubs.

NHL wants to keep the Coyotes base in Arizona and this could be possible if Reinsdorf buys the franchise. On the other hand, a Balsillie take-over of the Phoenix Coyotes would move the club base to Canada. Well, it is now down to the court to decide whom the franchise will be sold to. So far, both Reinsdorf and Balsillie have equal chances to buy Phoenix Coyotes.

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Reuters

Phoenix Coyotes Wants to Extend Sale Deadline to 15 September

You already know that NHL franchise Phoenix Coyotes is now struggling financially and is on the verge of losing its Arizona base as Canadian billionaire Jim Balsillie wants to buy the club and relocate to Hamilton, Ontario in Canada. Jim Balsillie-owned PSE Sports & Entertainment has made a $212.5 million bid to buy the club and the deadline of accepting any more bids ends on 29 June.

However, Phoenix Coyotes now wants to extend the deadline to 15 September in an attempt to provide other potential bidders some time to launch their bid. This is an attempt to keep the club base in Arizona, USA. However, I think, it would not be easy for the club to find many bidders at this time of global economic recession. One potential bidder could be Jerry Reinsdorf who currently owns the Chicago White Sox baseball club as well as NBA franchise Chicago Bulls.

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National Post