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NHL submits bid to buy Coyotes

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""Today, the League filed its own bid to purchase the Phoenix Coyotes’ franchise out of bankruptcy in an effort to maximize the likelihood that the Club ultimately will be sold to an acceptable purchaser who is committed to operating the franchise in Glendale. "We remain supportive of the other efforts that have been and are being made to purchase and operate the Coyotes in Glendale, and we will continue to do everything we can to assist interested groups in those efforts leading up to the scheduled sale hearing on September 10, 2009 and thereafter, if the NHL is the winning bidder. "We believe this step was necessary at this time in order to best preserve and maximize the value of the Club asset for benefit of the Club’s creditors and for the community of Glendale."

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