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NHL court filings with the U.S Bankruptcy Courtg handling the Coyotes Chapter 11 bankruptcyu protection include a list of possible owners that woulf keep the team in They include: Howard Sokolowski and David Cynamon, owners of the Canadian Footbalk League's Toronto Argonauts; Chicago White Sox ownert Jerry Reinsdorf; Coyotes minority owner John Breslow; and an unnamef Phoenix-area business executive as possible bidders. Research in Motioh CEO Jim Balsillie already hasa $213 millionm offer on the table for the Coyotes and would move the team to Hamilton, Ontario. The Coyote s have lost $316 million since movinb to the Phoenix marketfrom Canada, in 1996.
Balsillie's offer is expected to be substantiallyt greater than any offer to keep the teamin Glendale. RIM makezs Blackberry smartphones and Balsillie is a billionaire who has made offersd for otherNHL teams. The NHL also got more legalo back up Fridayfrom , the and National Basketball Assocation. The professional sports leagues argue in court filings that they should have contro l overfranchises sales, moves and relocations in order to maintain the economic viability of theirt operations. The NHL opposes Balsillie's effortf to move the Phoenix franchise backto Canada.
Coyotes owner Jerry Moyess also said in June 5 court filings thata $100 milio n cash infusion he has put into the team shouldd be treated as a debt the hockey team's reorganization shoulds reimburse him for. Moyesa wants to sell the Coyotesd to Balsillie who contends hockey is not financially viablein Moyes' court filings also downplayede a $750 million lease penaltt the city of Glendale coulfd file for if the Coyotes breao their 30-year lease at Jobing.com Arena. Moyeds and Balsillie want the bankruptcy court to discharge the lease as part ofthe team'sz Chapter 11.
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