NHL makes $140 million offer on Coyotes

The NHL is offering about US$140 million to purchase the Phoenix Coyotes in U.S. Bankruptcy Court and would avoid a sticky issue still facing the case by accepting the existing lease to play in Glendale.

The other bidder that would keep the team in Arizona, Ice Edge Holdings, did not include a figure in its bid, but its Canadian CEO Anthony LeBlanc said the partnership will offer up to $150 million.

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