CHICAGO, May 23, 2012 /PRNewswire/ -- Major League Baseball and the Chicago White Sox will co-­host the first­-ever "MLB Diversity Business Summit," which will provide attendees with unprecedented

A bankruptcy judge Wednesday rejected a bid to buy the Phoenix Coyotes by a Canadian businessman who had hoped to move the team to Hamilton, Ontario. The judge also turned down an attempt by the NHL to purchase the franchise, but said he would reconsider the league's offer if more compensation was made to bankrupt owner Jerry Moyes and former Coach Wayne Gretzky. The Coyotes are scheduled to open their season in Los Angeles Saturday amid continuing concerns about their future. Moyes filed for bankruptcy in May and the fate of the team landed in the hands of U.S.

The NHL learned Wednesday the Phoenix Coyotes would remain in place throughout the upcoming season, no matter who winds up owning the team, court records show. The fate of the Coyotes rests with a bankruptcy judge, whose court will eventually decide which of two outstanding offers to buy the team will prevail. Franchise owner Jerry Moyes filed for bankruptcy in May, leaving the future of the team in the court's hands. Canadian businessman Jim Balsille has submitted a bid to purchase the team and has said he would move it to Hamilton, Ontario.

Jerry Reinsdorf, chairman of baseball's Chicago White Sox, has abandoned his plan to purchase the NHL's Phoenix Coyotes. Chicago's majority owner had reached an agreement Aug.

The NHL has blocked an attempt to move the Phoenix Coyotes to Hamilton, Ontario, instead approving a sale to a U.S. group, the league announced Wednesday. Commissioner Gary Bettman said the league's board of governors had turned down a bid from billionaire Jim Balsillie to buy the team.