Jerry Reinsdorf to Apply to Purchase the Phoenix Coyotes

Kevin LeeContributor IJune 22, 2009

CHICAGO - APRIL 01: Jerry Reinsdorf, chairman  of the Chicago White Sox, watches as his team takes batting practice before the Opening Day game against the Cleveland Indians April 2, 2007 at U.S. Cellular Field in Chicago, Illinois.  (Photo by Jonathan Daniel/Getty Images)

The Associated Press is reporting Chicago Bulls and Chicago White Sox owner Jerry Reinsdorf will apply to the National Hockey League to purchase the bankrupt Phoenix Coyotes from Jerry Moyes by Friday.

In the hearing today, a new deadline for the sale of the Phoenix Coyotes to a local owner was set for August 5. A date was also set in September in case a local owner could not be found and at which point the NHL team will move to Hamilton.

The NHL believes a sale of the team could be completed by August 5, but does not believe a lease agreement could be negotiated by that date.