Gretzky Could Lose Up To $10M

((HT: The Star/McGran))When Jim Balsillie officially applies today to the NHL to move the money-losing Phoenix Coyotes to Hamilton, Wayne Gretzky ((pictured, thanks CBC)) will be watching very closely. The Great One stands to lose up to $9.3 million (U.S.) if Balsillie fails, according to court documents filed over the weekend. The same documents reveal the team itself says it's worth only $67 million and has debts totalling $244 million. Part of that debt is $9.3 million owed to Gretzky, making him one of the largest creditors. Oddly enough, Gretzky had given his blessing to a lesser offer from Chicago sports magnate Jerry Reinsdorf but stands to profit if Balsillie wins the team. When he kick-started the bankruptcy controversy, Balsillie had promised to pay Gretzky up to $22.5 million as part of his $212.5 million bid for the franchise. That included $8 million to cover payments Gretzky deferred to help the troubled team, and another $14.5 million should Gretzky cho...