PHOENIX -- A federal bankruptcy judge has given his approval to the sale of the Phoenix Coyotes to the NHL.
Judge Redfield T. Baum agreed to sign the sale order on Monday after attorneys made minor modifications to the deal.
None of the changes significantly altered the NHL's agreement to pay about $140 million to buy the team from owner Jerry Moyes.
The only party who didn't join in the agreement is former coach Wayne Gretzky, who owned a small portion of the team. However, Gretzky did not file a formal objection with the court.
Both the city of Glendale and the NHL Deputy Commissioner addressed the sale on Monday.
City of Glendale Spokesperson Jennifer Liewer said the city is pleased to have the NHL as formal owners of the team.
In a press release issued Monday, Liewer said, "The City of Glendale appreciates the efforts made by the league to protect Glendale's interest in the Jobing.com Arena. This now opens up the opportunity to initiate and finalize negotiations with other parties for the long-term success of the team in Glendale."
Deputy Commissioner of the National Hockey League, Bill Daly, echoes the City of Glendale's optimistic feelings about the sale.
In a statement released to the press, Daly said, "We are pleased and very encouraged by today's developments in court. Now that approval of the proposed sale has been entered by the Court, the National Hockey League will work to close the transaction quickly and assume full control of the Coyotes' business operations. The League also will engage immediately in a process to identify -- and expedite sale of the franchise to -- new ownership that is committed to the Club's long-term success in the Phoenix/Glendale area."
Daly goes on to say, "The NHL thanks Coyotes fans for their continued support of the franchise and hopes that today's developments will provide fans further reason to embrace the Coyotes in order to ensure the team's long-term future in Arizona."
