Judge approves transfer of Coyotes to NHL

Nov. 2, 2009 at 2:16 PM
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PHOENIX, Nov. 2 (UPI) -- A U.S. bankruptcy court judge Monday signed an agreement transferring ownership of the Phoenix Coyotes to the National Hockey League.

The deal, which was approved by Bankruptcy Judge Redfield Baum, opens the door for the Coyotes to emerge from bankruptcy and gives the league until the end of the year to find a buyer who will keep the team in Phoenix, the Arizona Republic reported.

The NHL bought the troubled franchise six months ago for $140 million.

The agreement on the sale process was reached last week but required Baum's formal approval, NHL.com said.

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