In an expected move and after most likely a bit of arm-twisting from NHL Commissioner Gary Bettman, sports magnate Jerry Reinsdorf filed a $148 million offer to buy the Phoenix Coyotes. Although the bid is $64.5 million less than Canada’s favorite vigilante wanna-be owner, Jim Balsille, it still is a substantial offer. The offer may even be enough money to persuade the bankruptcy judge to allow Reinsdorf’s ownership group to purchase the Coyotes and keep them in Glendale, Arizona.

During the bankruptcy proceedings, which were instituted last month, Judge Redfield Baum illustrated that he is not necessarily looking to sell the team to the highest bidder or else he would had ruled in Balsilles’s favor on June 15th. Baum, as presiding judge in this case, is attempting to strike a balance to satisfy the majority of stakeholders in this case while keeping the franchise in Arizona.

Baum wants to appease as many of the Coyotes’ creditors as possible, which include the City of Glendale, and many others, as well as the NHL, who is also a creditor in this matter. But Baum seems to think that the better decision here is to keep the team in Glendale and also oversee the team’s sale to someone who will come with enough money to satisfy most creditors and also turn the team into a viable enterprise in the desert.

As of now, the smart money is on Reinsdorf’s group to rescue the Coyotes out of bankruptcy. He is a talented individual who has the credentials in terms of producing winners, as he currently owns the Chicago Bulls and Chicago White Sox. The longer Judge Baum balks at Balsille’s offer to purchase, the less likely Canada will be able to “make it seven”.

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