Bankruptcy judge raises possibility of rejecting both bids to buy Coyotes

Judge raises option of rejecting both Coyotes bids

PHOENIX — A bankruptcy judge has raised the possibility of rejecting both bids to buy the Phoenix Coyotes.

Judge Redfield T. Baum make the comment on Thursday as the two-day auction of the team began.

Baum called the possibility “more than theoretical.”

Canadian billionaire James Balsillie has made a bid contingent on moving the team to Hamilton, Ontario, over the overwhelming opposition of the NHL.

The other bid 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 or, failing that, to someone who would relocate the franchise. Balsillie and NHL commissioner Gary Bettman were in the crowded courtroom Thursday.

THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP’s earlier story is below.

PHOENIX (AP) — 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 began 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 of 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 or, failing that, to someone who would relocate the franchise. Balsillie and NHL commissioner Gary Bettman were in the crowded courtroom when the hearing began.