Broke Yotes!!

[mgoblue]

Re: Broke Yotes!!

Ah the crazy NHL

Apparently the NHL has asked the judge to throw out Balsillie's bid because of the rejection he got when applying for the franchise last week at the NHL BOG.

That seems well and good but the NHL has a credibility issue here. They, like John Kerry "voted yes before they voted no". The judge is not stupid and he's going to really grill Bettman and Co. over why they suddenly had a change of heart as Balsillie was accepted a couple years ago but all of a sudden he's turned "bad".

The NHL's fighting hard to protect their autonomy and ability to admit who they want as owners...

[SPTO]

Re: Broke Yotes!!

The NHL's fighting hard to protect their autonomy and ability to admit who they want as owners...

Agreed,

However bankruptcy courts don't give a damn about that. The job is to get as much money back to the creditors.

The NHL has a very weak leg to stand on when it comes to how they've suddenly turned their back and saying Balsillie lacks character and is untrustworthy when the league has admitted at least 4 criminals into the "club" in Bettman's tenure.

[Money99]

Re: Broke Yotes!!

Agreed,

However bankruptcy courts don't give a damn about that. The job is to get as much money back to the creditors.

The NHL has a very weak leg to stand on when it comes to how they've suddenly turned their back and saying Balsillie lacks character and is untrustworthy when the league has admitted at least 4 criminals into the "club" in Bettman's tenure.

I believe the judge even said as much during the initial hearings.
He's already questioned how Ballsillie was approved before but isn't now. Sure seems like a weak argument on the NHL's part.

And you're right when you say that the judge doesn't care if he was rejected or not. His responsible to the creditors.
What if the NHL approved a bid for $5.00 from a 6-year-old kid. Should the judge say "Okay. As long as YOU like him, I'll approve the sale".

[dorismary]

Re: Broke Yotes!!

Just silly and if feasible move um back to Winnipeg wouldnt that be a great PR move ?
If not lets get some teams back in Canada eh !

[SPTO]

Re: Broke Yotes!!

This saga keeps getting weirder and weirder.

Thumbnail sketch:

- The Reinsdorf bid basically crumbled to pieces
- So now the NHL is putting in their own bid of 160 mil IIRC with the provision that they'll win the bid and operate the team until they can find a suitable 3rd party to buy the team
- The Ice Edge Holdings group has a firm bid offer of 140 mil
- Balsille is still top dog with a 212-220 mil offer.

If only Gary tried this hard to grow the game instead of fighting Balsille this league would be doing a lot better dontcha think?

[Money99]

Re: Broke Yotes!!

http://www.tsn.ca/nhl/story/?id=288924

The NHL's bid is for $140M and...

That acceptance would last no longer than through the coming season while the NHL seeks a better deal with the city and an acceptable buyer. If a buyer to keep the team in Glendale isn't found, NHL deputy commissioner Bill Daly said in an introduction accompanying the bid, the league would turn to "an organized process to relocate the franchise in another territory."

Very interesting. So all this time we hear Bettman and Daly trumpeting what a terrific hockey market Arizona is, but the minute they actually have to use their OWN money, they'll move the team almost immediately if they can't find someone to buy it.

Despite internet rumors and murmers, I believe Bettman is in good standing with the owners. But this is certainly casting a very dark shadow over him.
This whole debacle is his fault. He fought to get a new arena for the Coyotes and helped nurture the deal with Glendale, including it's lease.
And now those two things are what keeps the Coyotes from remaining in the desert. If they were in Scottsdale and had a forgiving agreement with the city, unlike the Jigsaw-esque deal with Glendale, none of this would be going on.

If the NHL does relocate, what city is the best bet?
KC, Vegas or even Winnipeg?

I think KC.

[Vince]

Re: Broke Yotes!!

I don'r see how KC should get an NHL team...

No more questionnable markets, please!

[Money99]

Re: Broke Yotes!!

I don'r see how KC should get an NHL team...

No more questionnable markets, please!

I agree. But considering the owner of their new state-of-the-art Arena is a buddy of some BOG's I'd say they have the inside track.

The NHL also doesn't seem to care about past track records when discussing relocation or expansion locations.

However, saying all of that, the NHL would be smart to move the team to a place like Winnipeg or Quebec City.
Then use KC and Vegas as a way to get $$$ for expensive expansion fees.

[SPTO]

Re: Broke Yotes!!

I don'r see how KC should get an NHL team...

No more questionnable markets, please!

I'd have agreed with you but St. Louis is close by and it's a pretty good market. I'm sure KC can be a good market given solid ownership and a team with a bright future (big gambles I know) I mean look at Colorado, everyone said the Avs would fail there but that market has thrived especially compared to the last time Colorado had NHL hockey.

[GrandMaster B]

Re: Broke Yotes!!

Just to reiterate, Ballsack's bid is not the best offer. Out of the $212 million, 104 will go to Moyes, who is an unsecured creditor. By law, he is not required to get anything in bankruptcy court. So you then have 108 million left. The other offers are over $140 million an include no payment to Moyes. Therefore, those are the higher offers. All offers will pay off the secured creditors. Both Ice Edge and Reinsdorf had an agreement with the largest creditor of 80 million to be paid off. I assume that the NHL's offer will take care of all of the secured creditors. I agree, this is a mess and who knows how it will turn out.

[Perceptor]

Re: Broke Yotes!!

I officially give up. This is becoming a joke and Bettman is looking dumber as this process DRAGS on. I wonder where all his bravado is about Phoenix being a great market when his league's cash is on the line......

[DrJones]

Re: Broke Yotes!!

I'd have agreed with you but St. Louis is close by and it's a pretty good market. I'm sure KC can be a good market given solid ownership and a team with a bright future (big gambles I know) I mean look at Colorado, everyone said the Avs would fail there but that market has thrived especially compared to the last time Colorado had NHL hockey.

Most markets will thrive when you arrive with several Hall-of-Famers, win the Cup on the first try, and remain contenders for a solid decade-plus. Well, except New Jersey.

Couldn't the NHL, just once, look for a market that doesn't require an instant Stanley Cup to gain fans? Or better yet, fold the Coyotes, Panthers, Thrashers, and Predators, hold a dispersal draft, and be done with it.

[bad_philanthropy]

Re: Broke Yotes!!

Why doesn't Bettman just let Ballsillie have the team and move it to Hamilton? If the chief concern for him is the team not succeeding in the Hamilton market and it reflecting poorly on him as the comissioner of the league, he can have a go at his ideal relocation market with the, Thrashers, or the Panthers in a few years anyway.

[DrJones]

Re: Broke Yotes!!

Why doesn't Bettman just let Ballsillie have the team and move it to Hamilton? If the chief concern for him is the team not succeeding in the Hamilton market and it reflecting poorly on him as the comissioner of the league, he can have a go at his ideal relocation market with the, Thrashers, or the Panthers in a few years anyway.

This has nothing to do with Hamilton's viability as a market. This has everything to do with a.) Bettman not willing to admit defeat regarding southern expansion, and b.) the almighty Maple Leafs not wanting competition in their backyard.

[VanCitySportsGuy]

Re: Broke Yotes!!

I believe Hockey in Phoenix can work if the team is good. I don't even remember the last time the Yotes made the playoffs.

There will be a major conflict of interest if the NHL buys the team. I assume the other owners will basically own a small part of the team (like the Expos situation in baseball). If I played in the Western Conference, I would want the Coyotes to be as weak as possible so it would be easier to make the playoffs.

This whole situtation is a disaster. I wish Bettman would take a hike but we all know this isn't going to happen since the majority of owners like him.