The NHL offered to operate the Coyotes' franchise as a "debtor in possession" for the 2009-10 season. Judge Tom was impressed with that offer.
That in effect is what the NHL bid would create. But with the NHL now talking about the potential of relocation, I wouldn't be surprised if the compromise to this situation is that the NHL operates the team and the bankruptcy auction is delayed till the end of the season. It may be the best deal Balsillie can get and if The Judge is in anyway positive about getting money for Jerry Moyes as a creditor, he may see it as the best and fairest solution. It would also allow the City of Glendale time to take stock in what they are dealing with and come to the realization that half a loaf may be better than no loaf at all.