PHOENIX -- The Coyotes' bumpy six-month journey through U.S. Bankruptcy Court has come to an end with a judge's approval of the sale of the franchise to the NHL.
Judge Redfield T. Baum signed the order yesterday after a quiet, brief hearing in a mostly empty courtroom, a stark contrast to earlier scenes of high drama featuring countless high-priced attorneys locked in often-bitter arguments.
The NHL's bid totals about $140 million US. The official figure listed in the sale order is $128.4 million, but that does not include the $11.6 million the NHL has agreed to spend to purchase claims of nearly all the unsecured creditors in the case.
NHL deputy commissioner Bill Daly said the league would work to quickly close the deal and take full control of the Coyotes' business operations.
"The league also will engage immediately in a process to identify -- and expedite sale of the franchise to -- new ownership that is committed to the club's long-term success in the Phoenix/Glendale area," Daly said in a statement.
The only party who didn't join in the agreement is former coach Wayne Gretzky, who owned a small portion of the team. However, Gretzky did not file a formal objection.
GAGNE GONE FOR WEEKS
PHILADELPHIA -- Flyers winger Simon Gagne is expected to miss the next six to eight weeks after having abdominal and hip surgery.
Gagne, who missed the past two games, is scheduled for surgery today.
"It's hard to take, but it's still early in the season," Gagne said. "I'll miss close to two months and have time to get back in shape and feel 100% when I'm skating. That's something I wasn't able to do right now."
DUCK BANNED FOR TWO
Anaheim Ducks defenceman James Wisniewski was suspended for two games for hitting Phoenix's Shane Doan in the forehead with his arm.
