26 Aug
Reinsdorf out, NHL in as possible buyer of Coyotes
A group headed by Jerry Reinsdorf has pulled out as a potential buyer of the Phoenix Coyotes just as the NHL filed a bid in US Bankruptcy Court to purchase the team and keep it in Arizona.
However, Ice Edge Holdings, a group of Canadian and American investors, submitted a bid by Tuesdays deadline that would keep the team in Glendale. Ice Edge chairman Keith McCullough said in a news release that the plan was to revitalize NHL hockey in Arizona and the southwestern United States.
Reinsdorfs group said it was unable to meet Tuesdays court deadline for submitting a firm offer. It also complained of an unwilling seller and an organized publicity effort designed to provide negative and misleading information to interested parties.