Dec 16, 2011, 2:23 PM EDT
According to The Arizona Republic, the City of Glendale could be getting a cool $4.75 million settlement from Jerry Moyes’ bankrupt company, Coyotes Hockey LLC.
No truth to the rumor that Glendale will build a monorail with the windfall.
The proposed settlement still has to be approved by a U.S. Bankruptcy Court judge next month.
Glendale has claimed $590 million in losses stemming from Moyes’ decision to abandon his NHL team’s lease at Jobing.com Arena.
The 30-year lease at the city-owned arena (with the massive penalty for breaking it) was reportedly one of the main factors that led to Moyes’ and Jim Balsillie’s decision (scheme?) to place the franchise into bankruptcy. Often a bankruptcy court will cancel leases, and a canceled lease would’ve opened the door for a move to Canada.
No word yet if Wayne Gretzky will receive any settlement money.
- Ex-‘Hawks goalie Raanta tees off on former club 30
- Report: Hawks feel Kane ‘disrespected’ team, have received trade calls 114
- Hawks’ biggest question: What happens with Patrick Kane? 81
- Hall of Famer Al Arbour passes away 22
- Poll: Who will be San Jose’s next captain? 24
- Mike Richards charged with possession of controlled substance 95
- Gio won’t go: Flames extend Giordano for six years, $40.5M 13
- Pens’ plan for now: Crosby starts as Kessel’s center 25
- O, Dear: Russia fined $85K for skipping Canadian anthem 31
- Kings ink Ehrhoff to a one-year, $1.5 million deal 27
- Report: Hawks feel Kane ‘disrespected’ team, have received trade calls (114)
- Mike Richards charged with possession of controlled substance (95)
- Hawks’ biggest question: What happens with Patrick Kane? (81)
- Lucic jokes about running through Rask ‘like I did (to) another goalie’ (42)
- It’s Chicago Blackhawks day at PHT (39)