The co-chief executive officer of BlackBerry maker Research in Motion Ltd received U.S. antitrust approval to buy the National Hockey League's Phoenix Coyotes, U.S. officials said on Tuesday.
Antitrust authorities completed their review of James Balsillie's deal for the Coyotes without taking any action to block it, the U.S. Federal Trade Commission said in a notice.
Balsillie offered to buy the money-losing hockey team in May when it filed for bankruptcy protection, but his offer is contingent on relocating the Coyotes to Ontario. NHL officials have said the league is committed to keeping the team in Phoenix and have fought with Coyotes' owner Jerry Moyes over who controls the hockey team.
Balsillie has threatened to drop his offer if the team's sale and relocation cannot be agreed upon by June 29.
The Coyotes have not made a profit since moving to Arizona in 1996.
(Reporting by Julie Vorman, editing by Dave Zimmerman)