Canadian billionaire Jim Balsillie's bid to buy the Phoenix Coyotes and move the NHL team to Hamilton was rejected Monday by an Arizona bankruptcy judge.
Balsillie, the co-CEO of Research In Motion Ltd., maker of the BlackBerry smartphone, had imposed a June 29 deadline to complete the sale — hoping to speed up the process and have the team ready to play in Hamilton for the 2009-10 season.
But in a ruling handed down late Monday, Judge Redfield Baum said "this court is unconvinced that it should order that the NHL must decide the relocation application to meet the June 29 deadline."
"The motion is denied, without prejudice," Baum wrote.
- Garry J. Wise, Toronto
Judge Baum's ruling notwithstanding, Mr. Balsillie indicates his bid to purchase the Coyotes will be moving forward.