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NHL approves Reinsdorf bid for Coyotes (AP)
By Goalie | July 29, 2009
The NHL Board of Governors approved a bid Wednesday by Jerry Reinsdorf to assume ownership of the financially troubled Phoenix Coyotes, and unanimously rejected an application by Canadian billionaire Jim Balsillie to buy the team. The group heading by Reinsdorf, the owner of the Chicago White Sox and Chicago Bulls, was the only one of three applicants to gain the board's approval on Wednesday.
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