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Sale of Coyotes to NHL closes

Associated Press

Tuesday, November 3, 2009

PHOENIX -- Final papers have been signed closing the sale of the bankrupt Phoenix Coyotes to the NHL. Notification of the closure was filed Tuesday in U.S. Bankruptcy Court. Attorneys signed final papers on Monday and $13.3 million was transferred into an account that will hold the money until dispersal is determined. In all, the NHL paid about $140 million for the team. The $13.3 million is what is remaining, primarily for owner Jerry Moyes and ex-coach Wayne Gretzky. The figure is expected ...

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