Jim Balsillie’s bid to become the owner of the Phoenix Coyotes was unanimously rejected by the National Hockey League’s board of governors on Wednesday. Instead, the NHL approved a bid by Jerry Reinsdorf, owner of the Chicago White Sox and Chicago Bulls. Balsillie had bid US$212.5 million–significantly more than Reinsdorf, who pledged US$148 million. But unlike Balsillie, who dreamed of moving the team to Southern Ontario, Reinsdorf is likely to keep the team in Phoenix, at least for a while.
NHL rejects Balsillie's bid for the Coyotes
League approves of Jerry Reinsdorf, owner of the Chicago White Sox and the Bulls