Reinsdorf enters lowball bid

ROB LONGLEY, SUN MEDIA

, Last Updated: 10:23 AM ET

As expected, Chicago Bulls and White Sox owner Jerry Reinsdorf submitted his offer to buy the Phoenix Coyotes yesterday but the cash value is considerably less the bid by Canadian billionaire Jim Balsillie.

According to court documents submitted to bankruptcy court in Phoenix, Reinsdorf is offering $148 million US. Balsillie, who had his initial bid to buy the team and move it to Hamilton, resubmitted his bid for $212.5 million, $64.5 million more than Reinsdorf. One key to the latter bid is Reinsdorf's demand to have a new lease written up with the city of Glendale and Jobing.com Arena.

"We've just received the new offer. We will need time to study it," Balsillie's spokesman, Bill Walker said last night. "But we wish Mr. Reinsdorf well, he is a fine professional sports owner.

"Jim Balsillie's effort to purchase the Coyotes and relocate the team to Hamilton continues."

Pronger a Flyer

The Philadelphia Flyers made the biggest early splash at the draft when they acquired star defenceman Chris Pronger.

Pronger and prospect Ryan Dingle went from the Anaheim Ducks to Philadelphia for forward Joffrey Lupul, defenceman Luca Sbisa, first-round picks in 2009 and 2010 and a conditional third-round pick in 2010 or 2011.

Pronger, 34, is going into the final year of a contract that will pay him $6.25 million.

"I wouldn't say I'm surprised," Pronger said. "I'm very excited. The fans are passionate about hockey. The style of play the Flyers play certainly fits mine."

Grabovski talks are on

The Maple Leafs held talks yesterday with the handlers of restricted free agent forward Mikhail Grabovski. Stressing that there is no urgency to get a deal done right away, team officials are confident an agreement will be reached over the summer.


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