After a failed bid by Research In Motion co-CEO Jim Balsillie, the Phoenix Coyotes have been sold to the National Hockey League for a paltry $140 million:
Business Journal: U.S Bankruptcy Court Judge Redfield Baum approved the $140 million sale of the hockey team by Phoenix businessman Jerry Moyes to the NHL.
The Coyotes are in Chapter 11 bankruptcy. The NHL wants to find a new owner for the Coyotes who will keep the team in the Phoenix market.
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