Coyotes File Chapter 11 (Bankruptcy)
NEW YORK (AP)—Angered by the Phoenix Coyotes’ bankruptcy filing, the NHL stripped owner Jerry Moyes of the authority to run the club.
A few hours after Moyes announced Tuesday that the team had filed for Chapter 11 bankruptcy protection—a move that could allow the cash-strapped franchise to be sold and moved to Ontario—the NHL said it would represent the team in bankruptcy court.
“We have just become aware of today’s bankruptcy court filing purportedly made on behalf of the Phoenix Coyotes,” NHL deputy commissioner Bill Daly said in a statement. “We are investigating the circumstances surrounding the petition, including the propriety of its filing.
“We have removed Jerry Moyes from all positions of authority to act for or on behalf of the club. The league will appear and proceed before the bankruptcy court in the best interests of all of the club’s constituencies, including its fans in Arizona and the league’s 29 other member clubs.”
