Jerry Moyes has filed a "Rule 2004 Motion"which would give him interviews with Jerry Reinsdorf, Gary Bettman, Bill Daly, and Glendale's city manager Ed Beasley. The NHL has fired back calling this "nothing more than Moyes' attempt to frusterate the sale of the Coyotes in Glendale."The league is reportedly working around the clock with Jerry Reinsdorf in order to get a bid finalized prior to the August 5th deadline imposed by the court.
Jerry Reinsdorf, current owner of the MLB's Chicago White Sox and the NBA's Chicago Bulls, has plans to submit a $148 million bid to keep the Coyotes in Phoenix. However this bid is pending many concessions made by the city of Glendale, which includes rewriting the Coyotes lease at Jobing.com Arena.
Moyes' response to this has been if the city will make the concessions for a new buyer, why did they now make them for Moyes? Although Glendale to date has been very reluctant to make any concessions regarding the team's current lease.
The NHL has also filed that there is another interested party for the purchase of the Coyotes. However they have also stated that they are not sure that this formal interest will lead to a bid. Moyes is requesting testimony and evidence of this bidder to be brought forward by the court. Again, the NHL believes this to be an attempt to deter such a bid from coming forward.
There is an August 5th deadline for bids to keep the team in Phoenix. On this date Judge Redfield T. Baum will hold an auction for parties interested in keeping the team in Pheonix. However if he believes the bids on this date are not sufficient enough to satisfy the creditors needs then he will defer to a September auction for all parties interested.
Jerry Moyes believes that he is the largest creditor in the Coyotes sale and stands to gain $100 million if Canadian Billionaire Jim Ballsille's bid is accepted by the judge. One can see why he is pushing so hard to ensure that Ballsille's bid gets back on the table.
As far as Ballsille's group is concerned they can do nothing more but wait and hope that nothing comes out of the August 5th deadline and then they can get back to work. After the deadline one of their biggest hurdles will be getting the NHL to agree on a relocation fee.
Also, one would have to believe Maple Leaf Sports and Entertainment lawyers could become very active if Ballsille's bid goes back on the table. All indications point to the Maple Leafs exercising their veto rights under the NHL constitution. Whether or not these rights hold up under the scrutiny of a Judge we may just find out.
One thing is for certain, there will be no quick and easy way out of the situation that has been created in Phoenix.