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Reinsdorf's group files $148 mil. offer to buy Coyotes

Friday, 06.26.2009 / 9:07 PM / News

NHL.com

A group led by Chicago Bulls and White Sox owner Jerry Reinsdorf has filed a $148 million offer to buy the Phoenix Coyotes and keep the team in Glendale, Ariz., the NHL confirmed Friday.

"We're aware the offer has been made," NHL Deputy Commissioner Bill Daly said from the floor of the Entry Draft in Montreal. "We're pleased there's an offer to own and operate the Coyotes in Phoenix."

The offer was submitted in bankruptcy court documents on Friday afternoon. Reinsdorf's offer calls for a new Jobing.com Arena lease with the city of Glendale and unspecified new agreements with other creditors -- including the NHL, which has been funding the club.

Friday was the deadline set by Judge Redfield T. Baum for potential buyers who would keep the team in Arizona to submit purchase applications to the NHL.
Quote of the Day

There's standards that this team is going to play to and there are expectations. We're going to hold these guys accountable to high standards.

— Coach Dave Lowry on Canada's junior team, the defending IIHF World Junior champions