2 of 15
BACKNEXT
Battling for a desert hockey team
Battling for a desert hockey team
Maybe this is the comeuppance for planting a hockey team in the desert. In May, the Phoenix Coyotes filed for Chapter 11 bankruptcy protection with up to $500 million in debts and less than $100 million in assets.

After that, a hockey-worthy fight broke out between the two potential new owners: Jim Balsillie, co-CEO of BlackBerry-maker Research in Motion, and Jerry Reinsdorf, owner of the Chicago White Sox and Chicago Bulls. While Reinsdorf said he would keep the club in its adopted home, Balsillie wanted to move it back to Canada. (The Coyotes started as the Winnipeg Jets before moving to Glendale, Ariz., a suburb of Phoenix, in 1996.)

In mid-June, however, the bankruptcy judge ruled against Balsillie's $213 million bid and said the team would be auctioned off in August to anyone willing to keep the club in Arizona. But the bickering between the two sides continues.

Whoever wins, they're scoring a team that averaged fewer than 11,000 fans at each game during the 2008-2009 seasons. That left the stadium almost half empty at home games.

NEXT: The president's suit maker needs a bailout

Last updated September 25 2009: 2:55 PM ET
Email | Print | Share  |  RSS
 
google my aol my msn my yahoo! netvibes
Paste this link into your favorite RSS desktop reader
See all CNNMoney.com RSS FEEDS (close)
More Galleries
9 reasons to be hopeful about women in tech These startups are working to leverage technology to level the playing field for minorities and women in tech. More
10 best states to retire in Forget Florida. Residents of these states are happy, safe, and have good health care -- all for the right price. More
5 celebrity-backed startups Jared Leto, Patrick Dempsey, Nas and Will.i.am have at least one thing in common. They're all startup investors. More

Special Offer