Posts Tagged ‘Jim Balsillie Phoenix Coyotes bankrupt

05
May
09

BREAKING: Ontario Coyotes Part 2

Ontario Coyotes

*UPDATE*: Rumors are flying about this. Eklund over at HockeyBuzz is calling some sort of B.S. on the story.  He received some ‘fishy’ emails and press releases about the offer for Phoenix from Jim Basillie. His VERY INTERESTING speculation on the story is below the break….


After my trip to Arizona I reported that the Coyotes were going to be sold, and potentially relocated, at the end of the season. My anonymous, but reliable, source had confirmation that Canadian investors already had the capital backing to purchase the team, but potentially would keep the Coyotes in Glendale. While the “Canadian investors” were not disclosed, illegalcurve.com is now adding confirmation to my story that the investor is Jim Balsillie of RIMM. Apparently Balsillie has offered over $212 million for the Coyotes and plans to move them to Southern Ontario. Illegalcurve.com has more of the story:

Jim Balsillie has put in an offer on the Phoenix Coyotes.

According to a media release, the Blackberry billionaire’s offer of $212.5 million (US) for the team is conditional on the franchise relocating to Southern Ontario.

“The current team ownership asked that I table an offer to purchase the Coyotes and significant discussions resulted in an offer that is in the best interests of the franchise, the NHL, and the great hockey fans of Canada and Southern Ontario,” Balsillie said in the release.

“I am excited to move closer to bringing an NHL franchise to what I believe is one of the best un-served hockey markets in the world, Southern Ontario. A market with devoted hockey fans, a rich hockey history, a growing and diversified economy and a population of more than 7 million people,” he said.

Continue reading ‘BREAKING: Ontario Coyotes Part 2’

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