Saturday, April 2, 2011

Moyes wants more info from Reinsdorf, NHL on Coyotes bid - South Florida Business Journal:

http://www.sgblog.com/home/user_detail.php?u=daperartyrell
Attorneys for Moyes are askingthe U.S. Bankruptcu Court in Phoenix to require more information from his business partners and the regarding his bid to buy the The Reinsdorf ownership team includes Phoenidx attorney John Kaites and sports executivweTony Tavares. It has the backingf of the NHL, which opposes a Moyes-backed bid to sell the Coyote s to Canadian billionaireJim Balsillie. CEO of BlackBerry maker Researchin Motion, has made a $213 milliohn cash offer for the Coyotese and would move them to Hamilton, Ontario. Moyeas would get $100 million out of the Balsillie deal.
The Reinsdortf bid does not list how much Reinsdorf might get from his It focuses largely on refinancing and reworking thehockegy team’s debts. Reinsdorf owns the Chicago Bullz and ChicagoWhite Sox, and it appearas his bid involves littld or no cash. Moyes wants U.S. Bankruptcy Court Judge Redfield Baum to have the NHL and the Reinsdorff ownership group disclose more information abouttheir bid, includinhg financing and dealing with unsecured debts -- includinbg money owed to Moyes, who says he has put $300 milliobn into the team.
The Moyezs camp also is pointing out that the NHL said there have been severakl bids to keep the teamin Glendale, but only the one led by Reinsdorfc was presented to Baum. Moyea put the Coyotes into Chapter 11 bankruptctin May, and part of the team’s reorganizationm was to involve a sale to Balsillie. The NHL and city of Glendal e started talking to Reinsdorfd about buying the team before the Chapter11

No comments:

Post a Comment