Judge Approves $140M Phoenix Coyotes Sale To NHL

Law360, New York (November 3, 2009, 1:01 PM EST) -- A federal judge has signed off on the NHL's acquisition of substantially all of the assets of the bankrupt Phoenix Coyotes hockey team for roughly $140 million.

Judge Redfield T. Baum of the U.S. Bankruptcy Court for the District of Arizona on Monday issued an order approving the NHL's amended and clarified bid for the team.

The league's bid afforded a full, fair and reasonable opportunity for any person or entity to make a higher or otherwise better offer, considering that the debtors have limited financing,...
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