Jerry Reinsdorf, the majority owner of the Chicago Bulls and the Chicago White Sox, has filed a $148 million offer to buy the Phoenix Coyotes.
The offer will require league approval and further court acceptance before it clears.
Bill Walker, the spokesman for Jim Balsillie, who is trying to move the team to Hamilton, weighed in on the move.
"We've just received the new offer. We will need time to study it. But we wish Mr. Reinsdorf well, he is a fine professional sports owner," Walker said. "Jim Balsillie's effort to purchase the Coyotes and relocate the team to Hamilton continues."
Reinsdorf would keep the team in Phoenix. His offer is $64.5 million less than Balsillie's, and calls for a new arena lease in Glendale.