Update: Balsillie and the Coyotes

((HT: Globe and Mail))
"Extensive efforts have been undertaken to sell the team, or attract additional investors, who would keep the team in Glendale," Jerry Moyes told the Arizona Republic.

"We have just become aware of today's bankruptcy court filing purportedly made on behalf of the Phoenix Coyotes," NHL deputy commissioner Bill Daly said in a statement.

"We are investigating the circumstances surrounding the petition, including the propriety of its filing.

"We have removed Jerry Moyes from all positions of authority to act for or on behalf of the club. The league will appear and proceed before the bankruptcy court in the best interests of all of the club's constituencies, including its fans in Arizona and the league's 29 other member clubs."

Moyes said that the City of Glendale, where the team's arena is located, is willing to "offer incentives to keep the team as a tenant in the Jobing.com arena, the lease for which is subject to rejection in bankruptcy."


Moyes also said the court process will assure that the new owner and team's location will be known by June 30, though it was unclear if the NHL would still need to approve new ownership or relocation after that date.

At the request of the Coyotes owner, Balsillie ((pictured, thanks Globesports.com)) said he has also agreed to provide $17-million in bridge financing to allow the franchise to keep going in advance of the sale.

The NHL did not immediately respond to a request for comment on the Balsillie move.

Balsillie is looking for help in his bid to establish a seventh Canadian NHL team. He's asking fans who want to see a seventh NHL franchise in Canada to make their voices heard. He's asking fans to log on to www.makeitseven.ca to add their voices to his bid.
"It's an exciting time for professional hockey in Southern Ontario and it has nothing to do with the playoffs," the website says.
Should the Coyotes end up in Canada, it will be a homecoming of sorts. The franchise was the Winnipeg Jets from 1979 to 1996.

News 12 in Phoenix gives you a completely false lead-in, but Brahm Resnik tries to clean up the mess...