Balsillie Response to Latest NHL Filing

    HAMILTON, ON, May 14 /CNW/ - Jim Balsillie today issued the following
statement with regard to NHL motions filed in a Phoenix bankruptcy court:
    "My response to the NHL motion, will be made in the appropriate forum at
bankruptcy court for consideration by Judge Baum. I continue to respect the
court process leading to Tuesday's scheduled hearing," Mr. Balsillie said.
    "I can tell you this. I made a generous good faith offer to buy the
Coyotes from Jerry Moyes, who I understand is the owner of the Coyotes. Who
owns or controls the team is a distinction without a difference. The team
itself is still bankrupt, voluntarily or not. The owner of the team has a
fiduciary obligation towards the creditors."
    "My offer, which goes the furthest in satisfying creditors' claims, is
still the same. It's $212 million to buy the Coyotes and bring them to the
best un-served hockey market in the world in Southern Ontario. We look forward
to discussing this no matter what the outcome on May 19th."
    "At the end of the day, this is about the passion Canadians feel for the
game of hockey and a chance to provide those fans with the opportunity to
support a seventh NHL team. That's what this is all about, great hockey fans
in a great hockey market."

For further information:

For further information: Bill Walker, Senior Vice President, Veritas
Communications Inc.,, O-(416) 482-2710, C-(416)

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