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Bill Daly's Statement regarding the Phoenix Coyotes

Monday, 10.26.2009 / 8:43 PM / News

NHL.com

Bill Daly, deputy commissioner of the National Hockey League, today released the following statement:

"In Phoenix today, a tentative agreement was reached among the parties to amend the NHL's offer to purchase the Coyotes franchise out of bankruptcy, and a proposed order, mutually agreed to by the parties, will be filed with the Court seeking approval of the NHL's amended bid.

"If there is no objection from the parties involved, and subject to any potential objections and a hearing if necessary, the parties hope to close the sale of the Club to the NHL by Monday, Nov. 2.

"It remains the NHL's intention upon taking control of the Club to stabilize the Club's operations and, as quickly as possible, to re-sell the Club to a new owner who is committed to operating the Club in the Glendale/Phoenix market."

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