Reinsdorf bows out of bidding -

Reinsdorf bows out of bidding

New organization steps up to purchase the Phoenix Coyotes


The group of investors led by Jerry Reinsdorf, owner of the Chicago Bulls and White Sox, missed their opportunity to buy the Phoenix Coyotes because they couldn’t meet an Aug. 25 deadline to place a concrete bid on the team. Reinsdorf says an “unwilling seller” and what he called “an organized effort designed to provide negative and misleading information to interested parties,” prevented his group from making a solid offer. However, the NHL and a new group called Ice Edge holdings both placed bids in time. They’re competing with Research In Motion co-CEO Jim Balsillie, who made a $212.5 million offer and plans to move the Coyotes to Hamilton, Ont., against the NHL’s wishes. The actual auction is set to take place on Sept. 10.


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Reinsdorf bows out of bidding

  1. This drawn out drama illustrates what a joke the NHL has become and why it is still slipping as one of the 'Big Four' North American leagues.

    Phoenix and Nashville in particular cannot stop losing money, playing in front of half full arenas and draining owners of much capital. Many other markets are struggling, and the recession is only going to make it worse…

    The NHL did good work for clubs like Ottawa and Pittsburgh… the difference being there was a fan base and large amateur hockey networks through the city and state/province. The interest was already there, which is easier to exploit than trying to create hockey fans…

    Let Jim buy a team and end the misery in either Nashville or Phoenix. Let him move the team to Hamilton, where they will play to large crowds like every other Canadian team does.