Most Viewed Stories
Most Commented Stories
Most Recommended Stories
Save & Share this Article
Sale of Coyotes to NHL closes
Comments 0 | Recommend 0PHOENIX (AP) — Final papers have been signed closing the sale of the bankrupt Phoenix Coyotes to the NHL.
Notification of the closure was filed Tuesday in U.S. Bankruptcy Court.
Attorneys signed final papers on Monday and $13.3 million was transferred into an account that will hold the money until dispersal is determined.
In all, the NHL paid about $140 million for the team.
The $13.3 million is what is remaining, primarily for owner Jerry Moyes and ex-coach Wayne Gretzky. The figure is expected to drop when additional attorney fees and other administrative costs are determined.
The NHL plans to resell the team, preferably to an owner that would keep the franchise in Glendale, Ariz.
See archived 'Local News' stories »
We want our site to be a place where people discuss and debate ideas that foster stronger communities. We built this for you. Please take care of it. Tolerate broad thinking, but take action against obscene or hateful material. Make it a credible and safe place worth preserving and sharing.
