Judge allows Balsillie to take part in auction with other bidders for Phoenix Coyotes

A Phoenix bankruptcy judge's ruling means Hamilton is as close to being the hometown of an NHL team as at any time since the Tigers left for New York in 1925.

Last night's ruling lets Jim Balsillie bid for the Coyotes, with every intention of moving them to Copps Coliseum, in the same auction with those vowing to keep the team in Arizona. It's the biggest win for the RIM boss in the nearly three years he's been chasing a team for this city.

He gets to put his $212.5-million bid against Jerry Reinsdorf's $148-million bid loaded with caveats, out clauses and payouts from a city and state facing tough economic times, and a second $150-million bid that's full of question marks.

The decision thrilled the Balsillie camp, which could have been all but eliminated from contention for the team had Judge Redfield T. Baum ruled the Waterloo billionaire had to take a back seat to those wanting to keep the team in Phoenix and only offer his bid if the others were deemed unacceptable.

"As the only bidder with a firm offer before the bankruptcy court to purchase the Phoenix Coyotes, we obviously agree that Jim Balsillie belongs in the September 10 auction," spokesman Bill Walker said. "From the time his bid was launched, Jim Balsillie has said that all he is asking for is a chance to bid for the Coyotes at auction through the bankruptcy court process on a level playing field and let the best bid win."

"That's fair and transparent," Walker said in the statement. "It's the best outcome for creditors and for the future of the franchise.

"We think Jim Balsillie's bid will emerge the winner because it offers the best financial terms and the most solid hockey market in Hamilton, where there are great fans thirsting for this team and a 32-year lease option at what will be a top-flight NHL arena."

Mayor Fred Eisenberger called the judge's ruling "exciting news." He says all Hamiltonians, and Canadians, should applaud and appreciate Balsillie for staying in the proceedings.

However, anyone jumping to the conclusion that this means it's a foregone conclusion that a team will be here in September -- or even next September -- is getting way ahead of themselves.

First, even if Balsillie wins the bidding war, most believe it would be all-but-impossible for the franchise to move to Hamilton, sell tickets, get the arena ready and change the league's travel schedule in time for the coming season. Particularly with the Coyotes' first exhibition game slated for only five days after the auction.

And that's the smallest issue. Whether or not the team is movable still hasn't been determined. There are issues of a long-term lease at the Coyotes' current arena that Baum hasn't yet ruled is breakable as well as the perpetual debate about which teams might be entitled to indemnification fees -- if any -- and how much those would be.