By MIKE SUNNUCKS
Phoenix Business Journal

BlackBerry billionaire Jim Balsillie may have lost the latest round in his bid to move the financially strapped Phoenix Coyotes to Canada, but the Canadian businessman says the fight isn't over.

Monday, U.S Bankruptcy Court Judge Redfield Baum nixed Balsillie's bid to buy the Coyotes for $213 million from owner Jerry Moyes because of Balsillie's June 29 deadline for the deal to go through.

Baum said that isn't enough time to resolve the Coyotes' Chapter 11 bankruptcy reorganization issues.

The ruling was a win for the National Hockey League and the City of Glendale, which want to keep the Coyotes in Arizona.

Balsillie spokesman Bill Walker issued a statement Monday night saying the effort to move the team to Hamilton, Ont., is not over: "Jim Balsillie's bid to bring a seventh NHL team to Canada continues. We're still here. The Phoenix court confirmed Mr. Balsillie was approved as an NHL owner in 2006 and remains so. We believe he has made the best offer and Hamilton remains the best location for this team.

"The court did not approve either our approach or the NHL's," Walker's statement continued. "Judge Baum did state he does not have time to decide all the relocation issues. But the court still controls the sale process. As a result, we look forward to hearing from the NHL soon on its view of our relocation application and an appropriate relocation fee, so as to allow the court to determine if that fee is reasonable. We still think there is enough time for the NHL to approve Mr. Balsillie's application and move the team to Hamilton by September. The court invited mediation on these issues and Mr. Balsillie is willing to participate in such mediation if the NHL is also willing to do so."

The NHL welcomed Baum's decision not to let the sale and move to Canada occur.

"We're pleased the court recognized the validity of League rules and our ability to apply them in a reasonable fashion," NHL Deputy Commissioner Bill Daly said in a statement released by the league on Monday night. "We will turn our attention now toward helping to facilitate an orderly sales process that will produce a local buyer who is committed to making the Coyotes franchise viable and successful in the Phoenix/Glendale area. We are confident that we will be able to find such a buyer for the Coyotes and that the claims of legitimate creditors will be addressed."