PHOENIX (AP) -Canadian billionaire James Balsillie has offered the city of Glendale $50 million to quiet its objections to his bid to buy the Phoenix Coyotes and move the team to Hamilton, Ontario.
Lawyers for Balsillie, co-CEO of the company that makes the Blackberry, filed an amended bid in U.S. Bankruptcy Court on Monday adding the offer to Glendale.
The NHL made a last-minute bid of $140 million to purchase the team and keep it in Arizona.
The team is to be sold at auction on Thursday.
Glendale has estimated losing the Coyotes would cause the city more than $500 million in losses, but Balsillie’s lawyers argue that estimate is too high.
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