PHOENIX (AP) -A group headed by Jerry Reinsdorf has pulled out as a potential buyer of the Phoenix Coyotes just as the NHL filed a bid in U.S. Bankruptcy Court to purchase the team and keep it in Arizona.
However, Ice Edge Holdings, a group of Canadian and American investors, submitted a bid by Tuesday's deadline that would keep the team in Glendale. Ice Edge chairman Keith McCullough said in a news release that the plan was to "revitalize NHL hockey in Arizona and the southwestern United States."
Reinsdorf's group said it was unable to meet Tuesday's court deadline for submitting a firm offer. It also complained of an "unwilling seller" and "an organized publicity effort designed to provide negative and misleading information to interested parties."