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Canadian billionaire, NHL bid for Phoenix franchise
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Published: September 10, 2009
PHOENIX - Finally, auction day has come for the Phoenix Coyotes. It's two days, actually.
The NHL franchise is to be sold at auction in a two-day hearing that begins Thursday in U.S. Bankruptcy Court in downtown Phoenix.
Only two bids have been made. One by Canadian billionaire James Balsillie is contingent on moving the team to Hamilton, Ontario, over the overwhelming opposition by the NHL.
The other is by the NHL, which says it will resell the team outside of the bankruptcy process, either to an owner who would keep the team in Glendale, Ariz., or, failing that, to someone who would relocate the franchise.
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