Kukla's Korner Hockey
by Paul on 05/26/09 at 06:55 PM ET
from David Shoalts of the Globe and Mail,
Jim Balsillie says he will withdraw his bid for the Phoenix Coyotes if a sale cannot be completed by the end of June.
In a document filed on Tuesday with the U.S. Bankruptcy Court, Thomas Salerno, a lawyer for Coyotes owner Jerry Moyes, said Balsillie notified the Coyotes that he made this ultimatum because he “nor any other known entity will fund another year of significant losses.”
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Paul Kukla founded Kukla’s Korner in 2005 and the site has since become the must-read site on the ‘net for all the latest happenings around the NHL.
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