NHL takes full ownership of the Phoenix Coyotes today
In case you haven’t heard today, the NHL has taken full ownership of the Phoenix Coyotes in Bankruptcy court procedings. The next step in this process is for the NHL to locate a suitable owner that will keep the team in Phoenix.
The City of Glendale released the following statement today:
“The city is extremely pleased that the NHL is now the formal owner of the Coyotes. This will allow for an organized process for the transfer of permanent ownership to a qualified management group. The City of Glendale appreciates the efforts made by the league to protect Glendale’s interest in the Jobing.com Arena. This now opens up the opportunity to initiate and finalize negotiations with other parties for the long-term success of the team in Glendale.”
Bill Daly, Deputy Commissioner of the National Hockey League also released the following statement
“We are pleased and very encouraged by today’s developments in court. Now that approval of the proposed sale has been entered by the Court, the National Hockey League will work to close the transaction quickly and assume full control of the Coyotes’ business operations. The League also will engage immediately in a process to identify — and expedite sale of the franchise to — new ownership that is committed to the Club’s long-term success in the Phoenix/Glendale area. We do not intend to comment publicly on that process.
“The NHL thanks Coyotes fans for their continued support of the franchise and hopes that today’s developments will provide fans further reason to embrace the Coyotes in order to ensure the team’s long-term future in Arizona.”
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November 2, 2009 – Update – 4:52 PM Arizona Time
Statement from Wayne Gretzky
“I’m pleased that today’s decision by Judge Baum resolves much of the uncertainty surrounding the Phoenix Coyotes. This positive step will now allow the organization to focus all its energy on the current season. I’m confident the team will build on their early successes and renew the loyalty of many hockey fans in the Phoenix area. I know the NHL will now do its utmost to find an excellent owner for the franchise going forward.
I wish for nothing but the best for the Phoenix Coyotes, their fans and the City of Glendale.”
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G52PM228 Says:
The team is still leaving. The NHL will reject Ice Edge due to their 5 games in Canada plan, but at least they can say “we tried!” and so they’ll flip this team to a relocation buyer and finally make some money after losing so much of it.
Posted on November 2nd, 2009 at 8:31 pm