The drama continues.Jerry Reinsdorf, the owner of the Chicago White Sox, has pulled out of the running to purchase the NHL's Phoenix Coyotes. Long thought to be the favorite to land the franchise, which has been in bankruptcy since the spring, Reinsdorf apparently had enough of former owner Jerry Moyes, as well as the so-far futile efforts to renegotiate the club's lease at Jobing.com Arena. In his place, the NHL has placed a bid. This leaves one to wonder how Coyotes fans feel about Gary Bettman taking over their team.
In a statement, NHL deputy commissioner Bill Daly makes it sound like the league knows what it's doing here.
"Today, the League filed its own bid to purchase the Phoenix Coyotes' franchise out of bankruptcy," Daly said, "in an effort to maximize the likelihood that the Club ultimately will be sold to an acceptable purchaser who is committed to operating the franchise in Glendale.
... "In the event the League's bid proceeds forward and ultimately is the one approved by the Court, we intend to conduct an orderly sale process to a third party buyer outside of bankruptcy."
While some supporters of Canadian maverick Jim Balsillie may look upon this as another sign of the team's impending move to Hamilton, the league has other ideas.
The intent isn't for the Coyotes to become an NHL-run franchise. It's to keep the team out of Balsillie's hands while the league figures out who they can
Reinsdorf, meanwhile, doesn't seem to be too upset at the league.
Reinsdorf, who was considered one of the best hopes of keeping the team in the Valley, said in a released statement that his group could not finalize a new lease deal with Glendale, which owns Jobing.com Arena.This has been a disaster for the league from the start, and it could only get worse if they get the team, but can't find a local buyer.
Reinsdorf's group placed the blame largely on Jerry Moyes, the team's majority owner, who was characterized as an "unwilling seller."
The statement said, "We have faced an organized publicity effort designed to provide negative and misleading information."
