The Phoenix Coyotes Might Rise from the Ashes in Toronto
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The Phoenix Coyotes Might Rise from the Ashes in Toronto

Amid rabid speculation that the Phoenix Coyotes face an insurmountable debt load, the team filed for Chapter 11 bankruptcy protection earlier today. Following the announcement, Research in Motion co-CEO Jim Balsillie put in a US$212 million offer to buy the team, under the condition that it is relocated to Southern Ontario. (His previous bids for the Nashville Predators and the Pittsburgh Penguins were unsuccessful.) Chatter of moving or creating a team here has re-ignited in recent weeks, but the NHL refused to confirm any of the speculation until today. The Globe and Mail is reporting that the NHL’s management, which has an acrimonious relationship with Balsillie, plans to fight the offer, but Balsillie hopes to avoid this battle (which hurt his previous bids) by building grassroots support for the team—he’s encouraging all fans of the proposal to visit in order to voice their support.