Jerry Moyes
Encyclopedia
Jerry Moyes is the founder, chairman and CEO of Phoenix-based Swift Transportation
, one of the largest trucking companies in the nation. Moyes is also owner of charter airline Swift Air
. He was a majority owner of the Phoenix Coyotes
of the National Hockey League
before the Coyotes filed bankruptcy and were sold to the NHL in 2009, and the Arizona Sting
of the National Lacrosse League
. Moyes is also a limited partner in the Arizona Diamondbacks
, and was once a minority owner of the Phoenix Suns
.
A graduate of Weber State College, Moyes is currently vice president at large of the American Trucking Association and previously served as president of the Arizona Motor Transport Association.
Jerry and his wife Vickie have been married for over 39 years and have 10 children and 10 grandchildren.
, and the lease to Jobing.com Arena to Moyes. He retained Wayne Gretzky
as part-owner and head of hockey operations.
Court filings show Moyes was never keen to own the Coyotes and had no interest in hockey. He acquired control of the club in 2006 after falling out over a real estate development with former business partner Steve Ellman. Afterwards, Moyes tried to find a buyer for the Coyotes, and he chafed at the league's interference in his attempts. In 2008, Moyes told Gary Bettman
and other league officials that he would stop funding the club. The league agreed to provide emergency funding in return for Moyes turning over his voting control. The acrimony was made public in May 2009 when Bettman and Daly came close to selling the Coyotes to Jerry Reinsdorf
, owner of the Chicago Bulls
and Chicago White Sox
, a move that would have seen Moyes receive almost nothing from the sale. On May 5, 2009, Moyes promptly put the Coyotes into Chapter 11 bankruptcy protection and announced a plan to sell the club to Jim Balsillie
. Moyes also filed a lawsuit against the NHL, alleging the league was an “illegal cartel.” Bettman was furious, arguing the league had been blindsided and that Moyes did not have the authority to put the club into bankruptcy protection.
Moyes was saddled with massive financial losses that dated to the time the former Winnipeg Jets moved to Phoenix. Unable to turn around the team's fiscal picture, he filed for Chapter 11
bankruptcy on May 5, 2009. As part of the filing, he agreed in principle to sell the Coyotes to a group headed by Research in Motion
co-CEO Jim Balsillie
, who intended to move the team to Hamilton, Ontario
. The league responded by stripping Moyes of virtually all of his ownership authority, though he is still nominally the team's owner. The NHL argued that Moyes had no right to make the filing because numerous agreements he'd signed with the league in return for financial assistance specifically barred him from filing for bankruptcy. It also claims that Moyes effectively surrendered control of the team by signing the agreements. A bankruptcy judge has scheduled a hearing for May 19, 2009 to determine who actually controls the team.
In October 2009, Baum rejected the NHLs bid, as well as Balsillie's $242.5-million offer. The judge ruled that Balsillie's bid faced too many legal obstacles, however, he said the NHL could revise its bid to include concessions to Moyes and Gretzky. The NHL had originally taken the position that neither Moyes and Gretzky were legitimate creditors because they were owners. Under Chapter 11 proceedings, owners usually rank below other creditors and rarely receive any of the proceeds from asset sales. On November 2, 2009, Moyes officially sold the Coyotes to the NHL for $140 million.
Swift Transportation
Swift Transportation is a Phoenix, Arizona based publicly held American truckload motor shipping carrier, the largest in the United States with over 16,000 trucks.-About:...
, one of the largest trucking companies in the nation. Moyes is also owner of charter airline Swift Air
Swift Air
Swift Air is an American airline based in Phoenix, Arizona, USA. It operates a fleet of business and commercial jets available for charter and private use. Its main base is Phoenix Sky Harbor International Airport. Not to be confused with Swift Air Malawi...
. He was a majority owner of the Phoenix Coyotes
Phoenix Coyotes
The Phoenix Coyotes are a professional ice hockey team based in Glendale, Arizona. They are members of the Pacific Division of the Western Conference of the National Hockey League . They play their home games at Jobing.com Arena....
of the National Hockey League
National Hockey League
The National Hockey League is an unincorporated not-for-profit association which operates a major professional ice hockey league of 30 franchised member clubs, of which 7 are currently located in Canada and 23 in the United States...
before the Coyotes filed bankruptcy and were sold to the NHL in 2009, and the Arizona Sting
Arizona Sting
The Arizona Sting was a member of the National Lacrosse League from 2004 to 2007. They played at Nationwide Arena in Columbus, Ohio, from 2001 to 2003 as the Columbus Landsharks. On August 28, 2003, it was announced that the team was relocating to Glendale, Arizona...
of the National Lacrosse League
National Lacrosse League
The National Lacrosse League is a men's professional indoor lacrosse league in North America. It currently has nine teams; three in Canada and six in the United States. Unlike other lacrosse leagues which play in the summer, the NLL plays its games in the winter and spring. Each year, the playoff...
. Moyes is also a limited partner in the Arizona Diamondbacks
Arizona Diamondbacks
The Arizona Diamondbacks are a professional baseball team based in Phoenix. They play in the West Division of Major League Baseball's National League. From 1998 to the present, they have played in Chase Field...
, and was once a minority owner of the Phoenix Suns
Phoenix Suns
The Phoenix Suns are a professional basketball team based in Phoenix, Arizona. They are members of the Pacific Division of the Western Conference in the National Basketball Association and the only team in their division not to be based in California. Their home arena since 1992 has been the US...
.
A graduate of Weber State College, Moyes is currently vice president at large of the American Trucking Association and previously served as president of the Arizona Motor Transport Association.
Jerry and his wife Vickie have been married for over 39 years and have 10 children and 10 grandchildren.
Phoenix Coyotes
Moyes was originally a minority partner in Steve Ellman's ownership group, which bought the Coyotes from Richard Burke in 2001. On Sept. 26, 2006, Ellman sold controlling interest in the Coyotes, Arizona StingArizona Sting
The Arizona Sting was a member of the National Lacrosse League from 2004 to 2007. They played at Nationwide Arena in Columbus, Ohio, from 2001 to 2003 as the Columbus Landsharks. On August 28, 2003, it was announced that the team was relocating to Glendale, Arizona...
, and the lease to Jobing.com Arena to Moyes. He retained Wayne Gretzky
Wayne Gretzky
Wayne Douglas Gretzky, CC is a Canadian former professional ice hockey player and former head coach. Nicknamed "The Great One", he is generally regarded as the best player in the history of the National Hockey League , and has been called "the greatest hockey player ever" by many sportswriters,...
as part-owner and head of hockey operations.
Court filings show Moyes was never keen to own the Coyotes and had no interest in hockey. He acquired control of the club in 2006 after falling out over a real estate development with former business partner Steve Ellman. Afterwards, Moyes tried to find a buyer for the Coyotes, and he chafed at the league's interference in his attempts. In 2008, Moyes told Gary Bettman
Gary Bettman
Gary Bruce Bettman is the commissioner of the National Hockey League , a post he has held since February 1, 1993. Previously, Bettman was a senior vice-president and general counsel to the National Basketball Association...
and other league officials that he would stop funding the club. The league agreed to provide emergency funding in return for Moyes turning over his voting control. The acrimony was made public in May 2009 when Bettman and Daly came close to selling the Coyotes to Jerry Reinsdorf
Jerry Reinsdorf
Jerry M. Reinsdorf is a CPA, lawyer and an owner of the MLB's Chicago White Sox and the NBA's Chicago Bulls. He started his professional life as a tax attorney with the Internal Revenue Service. He has been the head of the White Sox and Bulls for over 20 years.He made his initial fortune in real...
, owner of the Chicago Bulls
Chicago Bulls
The Chicago Bulls are an American professional basketball team based in Chicago, Illinois, playing in the Central Division of the Eastern Conference in the National Basketball Association . The team was founded in 1966. They play their home games at the United Center...
and Chicago White Sox
Chicago White Sox
The Chicago White Sox are a Major League Baseball team located in Chicago, Illinois.The White Sox play in the American League's Central Division. Since , the White Sox have played in U.S. Cellular Field, which was originally called New Comiskey Park and nicknamed The Cell by local fans...
, a move that would have seen Moyes receive almost nothing from the sale. On May 5, 2009, Moyes promptly put the Coyotes into Chapter 11 bankruptcy protection and announced a plan to sell the club to Jim Balsillie
Jim Balsillie
James Laurence "Jim" Balsillie is a Canadian businessman and co-CEO of the Canadian company Research In Motion. He is a member of the Trilateral Commission, a private political organization...
. Moyes also filed a lawsuit against the NHL, alleging the league was an “illegal cartel.” Bettman was furious, arguing the league had been blindsided and that Moyes did not have the authority to put the club into bankruptcy protection.
Moyes was saddled with massive financial losses that dated to the time the former Winnipeg Jets moved to Phoenix. Unable to turn around the team's fiscal picture, he filed for Chapter 11
Chapter 11, Title 11, United States Code
Chapter 11 is a chapter of the United States Bankruptcy Code, which permits reorganization under the bankruptcy laws of the United States. Chapter 11 bankruptcy is available to every business, whether organized as a corporation or sole proprietorship, and to individuals, although it is most...
bankruptcy on May 5, 2009. As part of the filing, he agreed in principle to sell the Coyotes to a group headed by Research in Motion
Research In Motion
Research In Motion Limited or RIM is a Canadian multinational telecommunications company headquartered in Waterloo, Ontario, Canada that designs, manufactures and markets wireless solutions for the worldwide mobile communications market...
co-CEO Jim Balsillie
Jim Balsillie
James Laurence "Jim" Balsillie is a Canadian businessman and co-CEO of the Canadian company Research In Motion. He is a member of the Trilateral Commission, a private political organization...
, who intended to move the team to Hamilton, Ontario
Hamilton, Ontario
Hamilton is a port city in the Canadian province of Ontario. Conceived by George Hamilton when he purchased the Durand farm shortly after the War of 1812, Hamilton has become the centre of a densely populated and industrialized region at the west end of Lake Ontario known as the Golden Horseshoe...
. The league responded by stripping Moyes of virtually all of his ownership authority, though he is still nominally the team's owner. The NHL argued that Moyes had no right to make the filing because numerous agreements he'd signed with the league in return for financial assistance specifically barred him from filing for bankruptcy. It also claims that Moyes effectively surrendered control of the team by signing the agreements. A bankruptcy judge has scheduled a hearing for May 19, 2009 to determine who actually controls the team.
In October 2009, Baum rejected the NHLs bid, as well as Balsillie's $242.5-million offer. The judge ruled that Balsillie's bid faced too many legal obstacles, however, he said the NHL could revise its bid to include concessions to Moyes and Gretzky. The NHL had originally taken the position that neither Moyes and Gretzky were legitimate creditors because they were owners. Under Chapter 11 proceedings, owners usually rank below other creditors and rarely receive any of the proceeds from asset sales. On November 2, 2009, Moyes officially sold the Coyotes to the NHL for $140 million.