Coyotes Fight May Spell Big Changes For Pro Sports

Law360, New York (May 12, 2009, 12:00 AM EDT) -- Tucked away in a relatively secluded quarter of the Arizona desert, the National Hockey League's Phoenix Coyotes rarely drew much attention. That all changed when the team, which has lost $73 million over the past three years along with seemingly countless games, filed for bankruptcy protection May 5.

The filing wasn't simply a reorganization. It included a plan to sell the team for $212.5 million to Jim Balsillie, co-CEO of BlackBerry maker Research In Motion Ltd. and a longtime thorn in the NHL's side, with the...
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