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NHL News: Judge rejects sale of Phoenix Coyotes

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From AZ Central.com

The Coyotes are staying in Phoenix.

A bankruptcy judge has rejected the proposed sale of the team to Canadian billionaire Jim Balsillie, who would have moved the team to Hamilton, Ontario.

Judge Redfield T. Baum issued a 21-page ruling late Monday afternoon, concluding that the June 29 deadline imposed by Balsillie did not allow enough time to resolve the complex case.

"Simply put, the court does not think there is sufficient time (14 days) for all of these issues to be fairly presented to the court given that deadline," the judge wrote.

The ruling is a victory for the NHL, which had argued Balsillie was using the U.S. Bankruptcy Court to make an end-run around the league's rules over who owns teams and where they are located.

NHL deputy commissioner Bill Daly declined immediate comment Monday, saying the league needed to read the entire opinion before issuing a statement.

The judge's decision is also a win for the city of Glendale, which had spent $183 million to build an arena for the Coyotes and had contended the franchise could not use bankruptcy to evade its lease.

More to come......