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Reinsdorf group moves on

Updated: June 8, 2010, 2:38 AM ET
Associated Press

PHOENIX -- A group headed Jerry Reinsdorf has withdrawn from efforts to purchase the Phoenix Coyotes, a move that leaves Ice Edge Holdings as the only potential buyer that would keep the NHL team in Arizona.

Reinsdorf, owner of the Chicago White Sox and Chicago Bulls, issued a statement Monday night saying "it was time to move on."

The Reinsdorf group once was the front-runner to buy the team but had fallen out of favor in recent weeks while Glendale officials worked out a memorandum ...

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