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NHL Headlines
- Blackhawks' Niemi shuts down Canucks 1-0
- Red Wings D Kronwall out 4-8 weeks
- Stamkos lifts Lightning by Atlanta in OT
- Heatley scores NHL-best 18th, Sharks win
- Leafs wear rally helmets, top Caps in SO
- Robidas has 4 points, Stars beat Devils
- Iginla's hat trick lifts Flames by Kings
- Streaking Panthers top stumbling Rangers
- Red Wings get past Canadiens in shootout
- Preds' run at home over Jackets now 12
Sale of Coyotes to NHL closes
PHOENIX (AP) Final papers have been signed closing the sale of the bankrupt Phoenix Coyotes to the NHL.
Notification of the closure was filed Tuesday in U.S. Bankruptcy Court.
Attorneys signed final papers on Monday and $13.3 million was transferred into an account that will hold the money until dispersal is determined.
In all, the NHL paid about $140 million for the team.
The $13.3 million is what is remaining, primarily for owner Jerry Moyes and ex-coach Wayne Gretzky. The figure is expected to drop when additional attorney fees and other administrative costs are determined.
The NHL plans to resell the team, preferably to an owner that would keep the franchise in Glendale, Ariz.
Updated November 3, 2009
© 2009 by STATS LLC and Associated Press.Any commercial use or distribution without the express written consent of STATS LLC and Associated Press is strictly prohibited.
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