Phoenix Coyotes owner Jerry Moyes has sent a letter to the editor of the Arizona Republic newspaper. He says he is resigned to losing more than $200 million dollars of his own money put into the team "no matter what."
 And he says, after explaining a history of investing in business in the area that Jim Balsillie is the only one who has come forward with enough money to pay the team's creditors. IN it, he writes:

   

No one other than Canadian businessman Jim Balsillie's company has offered enough to pay the          creditors, which led to my initiating a court-supervised sale process. This process will be open and     transparent, and all offers current and future must be fairly examined; guaranteeing an equitable         offer.

    I know I will lose more than $200 million invested in capital and the majority of my loans to the           team, no matter what. I have come to terms with that. But I don't think it's reasonable for the city     or the NHL to go to the next person with deep pockets and give that person a deal they would not         give me and the investors I sought to attract.

See the full article here.

Comments

[Robert]

Isn't Jim a nice guy.... saying he will keep the Coyotes in Phoenex for 1 year before packing the vans for Hamilton. He doesn't have a team, he isn't approved as an owner of the Coyotes and the NHL has no intention of giving the OK to move a team into Hamilton. But Jim in his infinite wisdom is going to cut the NHL a *break*. I don't know which is more obvious, that Jim is an eccentric kook or the sum will rise tomorrow.