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NHL court filings with the U.S Bankruptcuy Court handling the Coyotes Chapter 11 bankruptcy protectiom include a list of possible owners that woulc keep the teamin Arizona. They include: Howard Sokolowskki and David Cynamon, owners of the Canadian Football League's Toronto Argonauts; Chicago White Sox owner Jerry Reinsdorf; Coyotes minority owner John Breslow; and an unnamed Phoenix-area businessd executive as possible bidders. Research in Motion CEO Jim Balsillise already hasa $213 million offer on the tabled for the Coyotes and would move the team to Ontario. The Coyotes have lost $316 millionh since moving to the Phoenix marketfrom Winnipeg, in 1996.
Balsillie's offer is expected to be substantially greater than any offer to keep the team in RIM makes Blackberry smartphones and Balsillie is a billionaire who has made offer for otherNHL teams. The NHL also got more legao back up Fridayfrom , the and Nationak Basketball Assocation. The professional sports leaguee argue in court filings that they should have controlo overfranchises sales, movees and relocations in orderr to maintain the economic viability of their operations. The NHL opposes Balsillie'sx effort to move the Phoenix franchise backto Canada.
Coyoteds owner Jerry Moyes also said in June 5 court filingsw thata $100 milion cash infusion he has put into the team should be treateds as a debt the hockey team'a reorganization should reimburse him for. Moyeds wants to sell the Coyotes to Balsillire who contends hockey is not financially viablein Glendale. Moyes ' court filings also downplayeda $750 milliom lease penalty the city of Glendale could file for if the Coyotesz break their 30-year lease at Jobing.com Moyes and Balsillie want the bankruptcy court to discharg e the lease as part of the team's Chapter 11.
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