Report: Canadian investors group looking to acquire Coyotes Staff

7/10/2009 11:44:00 AM

Even without Jim Balsillie, there could be some additional Canadian content in the desert.

According to a report in the Globe and Mail, a group of Canadian investors are working on a potential bid for the Phoenix Coyotes and would keep the team in Arizona.

"We're taking a look at it," Daryl Jones, a manager director at Research Edge LLC in New Haven, Connecticut told the Globe and Mail. "We think potentially there's an under-managed business and if our thesis is right maybe there's an opportunity."

Jones, who grew up in Bassano, Alberta stressed that the bid group did not include Toronto Argonaut owners Howard Sokolowski and David Cynamon who reportedly had interest in purchasing the Coyotes.

Jones stated that the group had been reviewing the Coyotes.

An Arizona bankruptcy court will hold an auction on August 5th for bidders to keep the team in Phoenix.  If that auction does not produce sufficient bids then an additional auction will take place on September 10th for bids that are interested in moving the club from the desert.

So far Chicago White Sox and Bulls' owner Jerry Reinsdorf has made a bid on the team, however Balsillie who would likely participate in September's auction.