Judge ponders rejecting both bids for Coyotes in auction
The NHL and Jim Balsillie are bidding to buy the bankrupt Phoenix Coyotes
Judge Redfield T. Baum said it is "more than theoretical" that neither bid is suitable
Balsillie wants to move the team to Canada and the NHL wants to re-sell it
PHOENIX (AP) -- The auction of the bankrupt Phoenix Coyotes enters its second and final day Friday and, after four months, the judge is offering few hints on his decision.
Judge Redfield T. Baum threw out the possibility Thursday that he might reject both bids and simply have no sale.
Canadian billionaire James Balsillie has offered to buy the team for some $242.5 million, contingent on moving it to Hamilton, Ontario, over the objection of the NHL.
The NHL, led by commissioner Gary Bettman, has bid $140 million with plans to resell the franchise outside of bankruptcy. The first option would be to a buyer who would keep the team in Glendale, Ariz.
Failing that, the league would seek to relocate the team.
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