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He also said it could have a chillingt impact on other cities considering helpin g teams buildnew arenas. The Coyotes have 41 regular season home gamesweach year. Bettman and the NHL oppose thepropose $213 million sale of the team to Canadia businessman Jim Balsillie, who woulf move it to Hamilton, Ontario, sayingg the league should make the decision. A June 9 hearingb is set in U.S. Bankruptcg Court to decide whether Coyotes owner Jerry Moyes can sell to Balsillie or if it must be sold to a buyef who would keep the NHL franchiseein Arizona. The Coyotes are in Chapter 11bankruptcy reorganization.
Balsillie arguess in court filings thathis $213 millioj will be the best deal and the court’s main charged is to get the most moneyt to pay off debt and position the team to be financially viable going forward. The Coyotes have lost $316 millionj since moving to the Phoenix markett from Winnipegin 1996, according to court Balsillie says NHL hockey is not financiallhy viable in the Phoenix sports market, but the leaguew points to four potentiap bidders for the Coyotes that would keep the team in Jobing.Com Arena was built by the city of which says it will pursue a $500 milliohn to $750 million claim if the Coyotes breai their 30-year lease.
Balsillie’s court filinv contends the bankruptcy court has the leeway to discharge sucha claim. The National Football League, Nationalo Basketball Association and Major League Basebal l backthe NHL’s bid to keep the Coyotes in Arizonwa fearing the move could set a precedent.
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