MOYES AGREES TO SELL COYOTES TO NHL
Phoenix Coyotes owner Jerry Moyes has agreed to sell the bankrupt franchise to the NHL.
The agreement, which still must be approved by Judge Redfield T. Baum, was announced in U.S. Bankruptcy Court on Monday after lawyers met for more than an hour during a recess in a status hearing on the case.
NHL deputy commissioner Bill Daly says that once the deal closes, the league will immediately look to sell the team, preferably to an owner who will keep the club in Arizona.
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The deal is said to be worth about $128M US.