Judge Approves Sale Of Coyotes

((HT: TSN/

Judge Redfield T. Baum agreed to sign the sale order to the NHL on Monday after lawyers made minor modifications to the deal.

None of the changes significantly altered the NHL's agreement to pay about US$140 million to buy the team from owner Jerry Moyes.

The only party who didn't join in the agreement is former coach Wayne Gretzky, who owned a small portion of the team. However, Gretzky did not file a formal objection with the court.

As part of the deal, the league will reduce the amount of money it says Moyes owes it from $30 million to $15 million.

The sale leaves about $11.6 million that could be divided among Moyes, Gretzky and Glendale, but that figure is expected to drop by a few million when attorneys' fees and other administrative costs are subtracted. It is expected to take several months to determine the exact payouts.

Under the purchase agreement, all the unsecured creditors would be paid except Moyes, Gretzky and Glendale ((jobing.com Arena is pictured, thanks Getty Images)). The largest secured creditor, SOF Investments, will get all of its $80 million, either in cash or over time in an agreement with the NHL.

Those of us at OSG HQ would like to remind everyone that both Ice Edge and the Argos group of Cynamon and Sokolowski are interested in playing by The Bettman's rules for now- and could, probably, pick up the Dogs for a song.

Whoever that group is: Look for them to move the franchise after a few years straight of empty seats in the middle of the desert.