Glendale Courted Reinsdorf For Coyotes

((HT: Arizona Republic/Harris and Watters))

Hours before Jerry Moyes put the Phoenix Coyotes into bankruptcy court Tuesday and agreed to sell the team to a Canadian millionaire, Glendale was working on a deal to have Chicago sports executive Jerry Reinsdorf, along with other investors, take over the hockey franchise.

"The city of Glendale is working with interested parties and one of those parties we had a conversation with was Mr. Reinsdorf," Ed Beasley, Glendale city manager, said Wednesday. "We are working with the (NHL) league and will aggressively work to keep this team in Glendale and the state of Arizona."

Beasley declined to provide additional details on negotiations with Reinsdorf, a part-time Paradise Valley resident who, through a spokesman, declined to comment. Reinsdorf is majority owner of the NBA's Chicago Bulls and baseball's Chicago White Sox, who this year moved their spring training facility from Tucson to Camelback Ranch, which Glendale built.

Phoenix attorney John Kaites said that he began putting together a team of investors and approached the city and team six months ago about taking over and keeping the Coyotes in Glendale.

Kaites, who represents the White Sox among other sports teams, declined to say who or how many investors were involved.

"It's a robust group, and that is what it's going to take to save the team," he said.

Kaites said he met with National Hockey League Commissioner Gary Bettman in Phoenix on Tuesday.

For weeks, Reinsdorf had been courted to run the Coyotes, and the NHL was working with Glendale to broker a deal. The city had hoped Reinsdorf's extensive experience in running championship sports teams would resurrect the Coyotes, who have made the playoffs just once since Moyes became an investor.

Although Kaites has a long history with Reinsdorf, the attorney would not say if Reinsdorf was part of the group. Kaites said each partner would contribute equally, and each had an extensive background in sports.

"There's a really big desire on the part of our group to be involved in Glendale," Kaites said.

He would not say whether the investment group would need concessions from the city, but he did say it would take a "huge effort from this entire community to make this work."

Kaites said he and others in the investment group would "do what is necessary and reasonable," but would not engage in a bidding war for the team.

"We just sit back now and wait for it to be resolved between the team, the city and Jerry Moyes," Kaites said.

Here's how the Balsillie salvo was reported on "After 40 Minutes" on CBC's "Hockey Night in Canada" Tuesday night.
((HT: CBC/NHL))