NHL rejects Balsillie - League favours two other groups in Coyotes sale

ROSEMONT, Ill. — The NHL has given a thumbs up to Jerry Reinsdorf’s bid for the Phoenix Coyotes, while slapping down Jim Balsillie’s proposal to move the ailing franchise to Hamilton.

A third group got a partially favourable reception Wednesday during an NHL board of governors meeting, ahead of an Aug. 5 bankruptcy auction of the club.

The league’s executive committee interviewed three would-be purchasers: Reinsdorf, Balsillie and a third group — Ice Edge Holdings, headed by Anthony LeBlanc, Keith McCullough, Todd Jordan and Daryl Jones.

The committee then reported back to the board.

“Mr. Reinsdorf’s application was unanimously approved by all those board members present and voting, subject to the league’s completion of its due diligence and review of the final transaction,” the league said in a statement.

“In Mr. Balsillie’s case, it was the unanimous vote of all members present and voting that his application not be approved. With respect to the LeBlanc group, it was determined that, at this stage, since they’ve only recently begun the process, the application was incomplete and could not yet be acted on by the board.

“However, the executive committee reported favourably on the LeBlanc group’s interview and endorsed the group’s continued efforts to complete a bid to purchase the franchise.”

The league said it would advise the Phoenix bankruptcy court overseeing the franchise sale “and we will move this process forward.”

Ice Edge, a late entry into the Coyotes sweepstakes, has talked of staging some home games in Saskatoon.

PSE Sports and Entertainment, the company which represents Jim Balsillie’s $212.5-million bid, issued a statement in response.