NHL To Get Bankrupt Coyotes' Assets For $140M

Law360, New York (October 27, 2009, 2:47 PM EDT) -- The NHL has scooped up the bankrupt Phoenix Coyotes in a $140 million deal that will close Monday if no further objections are raised, partially ending a drawn-out battle for the team's assets and future home.

Coyotes owner Jerry Moyes agreed to sell the team to the league during a hearing in the U.S. Bankruptcy Court for the District of Arizona on Monday. Any objections to the sale agreement must be lodged by Friday, for which a hearing will take place next Monday if necessary, Judge...
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