Moyes Believes Chances Of Coyotes Moving To Hamilton Still 50-50
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Moyes Maintains Balsillie's Bid
For Coyotes Is Best Offer |
Coyotes Owner Jerry Moyes "believes the chances of the club being able to relocate to Hamilton are 50-50," according to Ken Peters of the HAMILTON SPECTATOR. Moyes said that RIM co-CEO Jim Balsillie's $212.5M bid for the Coyotes is the "best deal on the table for the bankrupt club." Moyes: "It is a very difficult decision for [U.S. Bankruptcy Judge Redfield Baum] to make and, of course, the NHL is standing up there saying it will take us two years to make this move and the judge says 'You better figure it out a lot faster than that.' It's probably a 50-50 deal." Moyes added, "There are two things that have got to happen to keep this team in Phoenix. Number one, someone has to put $200[M] into it with no intention of making any money for the next three or four years and they have to get $20[M] in concessions from the city of Glendale." Moyes said White Sox and Bulls Chair Jerry Reinsdorf, who has submitted an offer of up to $148M for the Coyotes, "has said all along he will not put any money into this thing." Moyes: "He will do what he could to keep it here. I just think the Reinsdorf offer is not a very good offer and the (bankruptcy) court judge will see that" (HAMILTON SPECTATOR, 7/2).
SPENDING ACCOUNT: In Phoenix, Gintonio & Watters note while the Coyotes "might be a bankrupt team looking for an owner," they are "not without resources during the free-agency signing period, which began Wednesday." The Coyotes are "expected to be up to $13[M] under" the $56.8M salary cap next season, and Coyotes GM Don Maloney said, "I have a player budget worked out that both the NHL and a representative of Mr. Moyes have agreed to." Meanwhile, Coyotes President & COO Doug Moss said that ticket sales for next season "began to slow" after the team's May 5 bankruptcy announcement. Moss: "We're starting to pick back up now. We lost a lot of momentum, now heading into the summer, we've lost six weeks of prime selling time. Hopefully we can make it up" (ARIZONA REPUBLIC, 7/2).
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