We haven’t had a lot of time over the past few weeks to keep you all up to date. But here’s a quick summary of the latest happenings in the Phoenix Coyotes debacle…

The NHL Board of Governors rejected Jim Balsillie’s bid to purchase the Coyotes (suprise! hah), and gave positive responses to bids put forth by Ice Edge Holdings (a group of U.S. and Canadian investors) and Jerry Reinsdorf. Both bids were to purchase the team and keep them in Phoenix, with the Ice Edge Holdings groups also proposing that the team would play five game in Canada… in Saskatoon, Saskatchewan or Halifax, and Nova Scotia. Ice Edge is offering $150 million and Reinsdorf bid is for $148 million, both much less than Balsillie’s $212 million offer.

However, the most recent news is very good…Judge Baum has decided to let any and all interested parties be involved in the open auction for the team on September 10th, which means that Balsillie will be allowed to take part! The Judge said specifically that the offer from Balsillie would be considered. Balsille also got a little help yesterday… the largest creditor of the Coyotes (which is owned by Michael Dell of Dell Computer) said that they wanted to be paid in full and in cash, and that only Balsillie’s bid would fulfill their request. The Globe and Mail has a great article on all of the latest. Check it out.

Yes, there is still hope for Canada!!