GLENDALE, Ariz., Aug. 26 (UPI) -- Jerry Reinsdorf, chairman of baseball's Chicago White Sox, has abandoned his plan to purchase the NHL's Phoenix Coyotes.
Chicago's majority owner had reached an agreement Aug. 11 with Jerry Moyes, majority owner of the Coyotes, to buy the bankrupt NHL franchise, but the Reinsdorf group failed to meet a court-mandated sale deadline Tuesday to buy the Coyotes and keep them in Glendale.
In a statement, the Reinsdorf group called Moyes an "unwilling seller."
"It is unfortunate … We have faced an organized publicity effort designed to provide negative and misleading information to interested parties," the Reinsdorf group's statement said. "Not only has this stymied negotiations, but is has eroded local market demand for Coyotes tickets, luxury boxes, and sponsorships."
The NHL has submitted a bid in U.S. Bankruptcy Court to purchase the Coyotes and keep them in Glendale.
The NHL board of governors previously rejected a bid by Canada's Jim Balsillie, who still is trying buy the club and move it back to Canada.
