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Wednesday, Nov. 4, 2009

Coyotes' sale to NHL ends long saga

PHOENIX (AP) The Phoenix Coyotes' bumpy six-month journey through U.S. Bankruptcy Court has come to an end with a judge's approval of the sale of the franchise to the NHL.

Judge Redfield T. Baum signed the order on Monday after a quiet, brief hearing in a mostly empty courtroom, a stark contrast to earlier scenes of high drama featuring countless high-priced attorneys locked in often-bitter arguments.

The NHL's bid totals about $140 million. The official figure listed in the sale order is $128.4 million, but that does not include the $11.6 million the NHL has agreed to spend to purchase claims of nearly all the unsecured creditors in the case.

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