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NHL Headlines
- Henrik Sedin leads Canucks past Kings
- Sens beat Jackets on Foligno's late goal
- Hossa scores 2 in debut, 'Hawks stay hot
- Crosby helps Pens match franchise record
- Ovechkin scores, ejected as Caps win 2-0
- Preds run win streak to 7, top Avs in OT
- Hurricanes lose 12th straight on road
- Bruins top Wild in SO to finish 4-0 trip
- Thrashers' Pavelec wins 2-0 at Detroit
- Dawes, Kiprusoff lead Flames by Coyotes
Sale of Coyotes to NHL closes
PHOENIX (AP) Final papers have been signed closing the sale of the bankrupt Phoenix Coyotes to the NHL.
Notification of the closure was filed Tuesday in U.S. Bankruptcy Court.
Attorneys signed final papers on Monday and $13.3 million was transferred into an account that will hold the money until dispersal is determined.
In all, the NHL paid about $140 million for the team.
The $13.3 million is what is remaining, primarily for owner Jerry Moyes and ex-coach Wayne Gretzky. The figure is expected to drop when additional attorney fees and other administrative costs are determined.
The NHL plans to resell the team, preferably to an owner that would keep the franchise in Glendale, Ariz.
Updated November 3, 2009
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