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Balsillie says he's 'closer' to move

Updated: June 10, 2009, 3:44 PM ET
Associated Press

PHOENIX -- Canadian billionaire Jim Balsillie says he's "one step closer" to bringing the Phoenix Coyotes to southern Ontario.

Balsillie made the statement on his Web site Wednesday, a day after a hearing in U.S. Bankruptcy Court on his bid to buy the Coyotes and move them over the objections of the NHL.

Judge Redfield T. Baum indicated the NHL is entitled to a relocation fee, and if Balsillie balks at the fee as too high, his bid would evaporate.

Balsillie, however, painted ...

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