Glendale, AZ (Sports Network) – Matthew Hulsizer, once a leading candidate to buy the financially-strapped Phoenix Coyotes, pulled out of his purchase bid on Monday, according to multiple reports.

According to the Phoenix Business Journal, the Chicago investment executive is still interested in buying an NHL franchise, but not the Coyotes.

Chicago Bulls and White Sox owner Jerry Reinsdorf and another unnamed group, along with Hulsizer, a co-founder of PEAK6 Investments, were talking to the city of Glendale about purchasing the team, according to the Phoenix Business Journal.

The team, which is currently owned by the NHL, has been in turmoil ever since former owner Jerry Moyes filed for Chapter 11 bankruptcy in 2009. Several bids for the team have fallen through, including some potential buyers that had hoped to move the team.

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