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Greg Wyshynski

NHL, Ice Edge bids for Coyotes reveal surprises

Greg Wyshynski
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The Hamilton Spectator is reporting that the NHL's bid for the Phoenix Coyotes is $140 million, which is lower than three other attempts to purchase the franchise: Those of billionaire Jim Balsillie ($212 million) and Ice Edge ($150 million), both of whom are formally in the auction for the team; and the Jerry Reinsdorf group's now-aborted $148 million proposal.

According to Bloomberg, the NHL's offer addresses the franchise's debt, which is at the heart of the Sept. 10 auction:

The NHL claimed in court papers its bid is worth $140 million and will consist of either cash for creditors, or the resumption of regular payments on at least $80 million of Coyotes' debt.

The size of that bid is, one imagines, contingent on some of the creditors in consideration (Jerry Moyes, Wayne Gretzky) having their claims on reimbursement wiped away by the court system.

The devil, as usual, is in the details. Brahm Resnik, a reporter for the Arizona Republic and News 12, has been a must-read on Twitter (@brahmresnik) during the Phoenix Coyotes ordeal. Two of his tweets today were of the breaking-news variety on the recently-filed bids:

"Ice Edge bid contingent on Glendale letting team play 5 games plus some playoff games in Canada. No deal yet on lease."

"NHL bid leaves door open to rejecting arena lease after coming season and selling team to out-of-town buyer."

Keep an eye on The Yotes Diva on Twitter for more. Playoff games in Canada? Relocation after one season if the NHL doesn't receive concessions from Glendale or can't find a buyer? Well, suppose it does beat a fleet of U-Hauls to Hamilton in October ...

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