Broke Yotes!!

[Matteh]

Re: Broke Yotes!!

Man, the whiteouts started in Winnipeg, where the team was originally moved from.

Oh I'm well aware. I never said Phoenix started it, just saying it was cool to watch their playoff games in the late 90's with the whiteouts. It was nice they kept that tradition going.

[SPTO]

Re: Broke Yotes!!

This story gets more and more complicated and interesting. Apparently Moyes gave up control of the team for $38M BUT Moyes claims he only gave up his votes on league matters

Here's the article and the part in bold should be read if you don't feel like reading the whole thing.

Phoenix Coyotes owner Jerry Moyes gave NHL commissioner Gary Bettman an "irrevocable proxy" to control his franchise on Nov. 14 in exchange for $38 million (U.S.) in league money to stay afloat, according to court documents.

"As a condition to providing this support, the league required Mr. Moyes ... to execute proxies in favour of the commissioner of the NHL to control the equity and operation of the (club)," the NHL argues in its objection to the bankruptcy proceedings

"Moyes asked that he be allowed to retain his titles to avoid public embarrassment, and the league so agreed, but with the express understanding that he had no authority ... to take any action outside the normal course of business, including filing for bankruptcy."

The Coyotes have countered by saying the proxy amounts to nothing more than giving the league a right to vote on certain matters, and taking the team into bankruptcy is not a voting matter.

Stickhandling through the courts is just one of the ways billionaire Jim Balsillie's power play to purchase the Coyotes and move them to Hamilton will heat up this week.

First, a minor hurdle was cleared over the weekend when the Atlanta Thrashers were dismissed as a potential rival looking to relocate to Copps Coliseum.

Thrashers executive VP and GM Don Waddell said there was no truth to rumours that developer Tom Gaglardi was interested in the team.

"We are not a movable franchise," Waddell told the Atlanta Journal-Constitution. "I have talked to our owners, and no one has had contact with any group."

Second is a matter of getting a lease for the city-owned Copps Coliseum, a matter that may be dealt with by city council at its meeting Wednesday.

"Our main focus is and continues to be Mr. Balsillie," Hamilton Mayor Fred Eisenberger told the Hamilton Spectator yesterday. "We intend to follow through and create an agreement with him that services his interest and the city of Hamilton. Any other discussions are, at this point, content."

Thirdly, though, is the bigger matter of wading through the legal minefield of a U.S. federal bankruptcy court. There was no sign of an agreement over the weekend.

The NHL maintains it's been in control of the franchise and has until Wednesday to file arguments to further its case beyond its objections it filed last week.

"We're busy preparing our papers for submission on May 13," deputy commissioner Bill Daly told the Star in an email. "Franchises are assigned territories for a reason. No club owner (much less a new purchaser) has an inherent right to pull up stakes and move to a different location that they may deem more desirable. That's not what they bought when entering the league. Decisions on franchise location are left to the discretion of the 30 member clubs acting as a league in accordance with well-established rules and criteria."

The league's argument that it holds that irrevocable proxy is its strongest case. But the Coyotes, who have until Friday to respond to the NHL's case, have already issued a counteroffensive on the proxy.

"The NHL apparently believes that its commissioner controls (the franchise) by virtue of certain voting proxies," reads Moyes' statement as a debtor.

"What the NHL and the commissioner fail to recognize (or simply ignore) is the fact that the voting rights that were granted to the commissioner under the proxies are expressly limited to only matters, if any, that actually require a vote."

And taking the team into bankruptcy is not a matter that requires a vote, says the statement. It is in fact a right guaranteed by the league to Moyes when he bought the team, citing Article 6 of the Hockey Operating Agreement.

[Money99]

Re: Broke Yotes!!

Thanks SPTO. That's an interesting article.
I guess we should know the answer to the first hurdle on the 19th - hopefully.

I wonder who has the stronger proof of control? If Moyes has it, then the bankruptcy proceedings continue.

Part of me believes the NHL is really trying to win this battle in the 1st round, because if Moyes wins this argument, then there's a good chance Ballsillie gets his way.

Stay tuned!

[Donovan]

Re: Broke Yotes!!

That articke makes me think Moyes has less and less of a case here, and that the NHLs case might be the stronger one.

[SPTO]

Re: Broke Yotes!!

Ah I love the NHL.

From Darren Dreger of TSN:

The NHL filed an objection this morning with the U.S Bankruptcy Court following Moyes' attempt to force the league to disclose other interest or offers to buy the struggling Coyotes franchise.

In court documents obtained by TSN, the NHL charges the motion submitted on Monday by Moyes' legal team is ''premature'' and should be ''denied.''

''Pending the determination of who is in rightful control of the Debtors, there is no justification for the efforts of the Debtors' former principal, Jerry Moyes, to harass the league with such discovery that may prove wholly unnecessary. Premature disclosure of confidential discussions will jeopardize value for the league and all of its member teams, including the Phoenix Coyotes, as well as the team's creditors."..............

.................At this point, the judge in this bankruptcy case has not granted the motion, but could do so at some point today.

If the Moyes motion is granted, the NHL will have to produce the content of discussions with Reinsdorf, and perhaps any other interested purchase groups.

Here's the link to the full article

DREGER: BACK AND FORTH JOUSTING BETWEEN NHL-MOYES CONTINUES

[Money99]

Re: Broke Yotes!!

Ah I love the NHL.

From Darren Dreger of TSN:



Here's the link to the full article

DREGER: BACK AND FORTH JOUSTING BETWEEN NHL-MOYES CONTINUES

In other words:

"Your honor we don't want to show that the next best offer was a coupon for a Big Mac and an expired Bestbuy membership card".

Bill Daley claims that there were other offers that were better than Ballsillie's where all creditors would be paid in full. And that Moyes took this deal because it would benefit only him.
Hogwash. Moyes is the primary secured creditor and according to the documented Ballsillie claim, everyone would be getting paid, not just Moyes. That's contrary to the reported deal of Reisendorf where he would get the team for about $100M and Moyes would see next to nothing out of that.
I don't blame Moyes for doing what he did.

This is another case of Uncle Gary forcing a new owner (and lower price - see Nashville sale) on a team whether the previous owner likes it.

I wonder how long it'll take to find out Reisendorf is selling crack or managing an international prostitution ring.
Judging by Gary's previous selections, it would be an improvement.

[Bolts_26]

Re: Broke Yotes!!

So, The thing here that really pisses me off is the Garry Bettemen is doing all in his power and supporting the Yotes when the poor Isles are slowly falling down the drain.

Sure, The Yotes may be involved in a much serious problem but the Isles have been trying to get the lighthouse project going for years and the Owners have reported to lost over 20 million per year.

I never liked Bettmen and I think he needs to do something to help out the Islanders.



I hope for the best in the Yotes situation and personally, I would like them to stay in Arizona.

[Donovan]

Re: Broke Yotes!!

It would be hilarious if the league wound up with egg on its face and was forced to admit that they exaggerated the number of would be owners who were lining up to buy the coyotes as they implied. Why else would they refuse to come forward with other offers, even if they were only preliminary offers and discussions? Surely that would show Moyes and others that they indeed do find Balsillies offer offensive because they obviously had everything under control with the Coyotes.

I still don't know who will win this thing, lots of back and forth, it surely won't be over in time for next season, this will drag out.

[shinderhizzle84]

Re: Broke Yotes!!

So, The thing here that really pisses me off is the Garry Bettemen is doing all in his power and supporting the Yotes when the poor Isles are slowly falling down the drain.

Sure, The Yotes may be involved in a much serious problem but the Isles have been trying to get the lighthouse project going for years and the Owners have reported to lost over 20 million per year.

I never liked Bettmen and I think he needs to do something to help out the Islanders.



I hope for the best in the Yotes situation and personally, I would like them to stay in Arizona.

i completely agree. as a goalie, i've hated bettman. i'm kool with moving the equipment a little smaller, but changing the net size would screw up the game. goaltenders use their angles by measuring things like the ratio of the top of the crease to the posts, to the back posts, the xbar, so on and so forth.

but that's not the point. i also live in NY, and i can tell you right now that there are virtually no isles fans anywhere. it's sad, too, bc they used to be one of the best in the league (70's and whatnot), and on top of all that, theyre going to get tavars/hedmen next year, which will be a complete waste. tavares or hedmen wont be able to rescue the isles like crosby has for the pens or ovie for the caps. rangers and devils fans are so dedicated, theyre not going to jump ship (or wagon) because of one player. the isles need help immediately. i just hope they don't move, bc even though i'm a rangers fan, i can't wait to see guys like tambellini and okposo 4-5 years from now. theyre going to be dirrtty.


and yes, donny....i'd would add that to my mega list of "why to hate bettman" if that happened

[Money99]

Re: Broke Yotes!!

i completely agree. as a goalie, i've hated bettman. i'm kool with moving the equipment a little smaller, but changing the net size would screw up the game. goaltenders use their angles by measuring things like the ratio of the top of the crease to the posts, to the back posts, the xbar, so on and so forth.

I don't mean to derail this topic but if the goalies equipment isn't shrunk then they need to go to bigger nets.

To say that players today have the same cubic space to score on that guys in the 70's and 80's had is asinine.
And from what I see, the equipment is designed to protect air, not body parts.

Former goalie, and NHL goalie equipment enforcer Brian Hayward recently told XMHome ice that he was actually told by a current starting goalie that "I need bigger equipment. If it was smaller I might get bruised".
According to Heyward he was pretty disgusted with that comment. You might get bruised??? Suck it up!
With today's technology there's noway we can't have shrunken equipment that can still protect the goalie without protecting the 4" of air on top of their shoulders.
If a cop can wear a vest under a buttoned-down T-SHIRT that can stop bullets then why do goalies need to look like the Michelin man?

[Donovan]

Re: Broke Yotes!!

I'm very opposed to bigger nets, I've played with the same standard sized net all my life, from the rink to the street and it would just be breaking tradition to change it. In todays day and age goalie equipment can be made safer, stronger and smaller, like advancements in anything else, like cell phones.

[SPTO]

Re: Broke Yotes!!

Man Balsillie is being AGGRESSIVE!

He's landed two "anchor sponsors" in Labatts Breweries and Home Hardware. Here's the story

TORONTO -- Jim Balsillie expanded his own personal NHL power play Friday, announcing a pair of corporate sponsors were on board for his bid to bring the Phoenix Coyotes to southern Ontario.

The BlackBerry boss unveiled his expanded www.makeitseven.ca website, bringing Labatt Breweries and Home Hardware into the fold as his first two "anchor corporate partners."

"What began as a grassroots movement to support bringing a seventh NHL club to Canada is now attaining critical mass, with these two iconic Canadian brands proudly joining the effort," Balsillie said in a statement.

Balsillie says more than 120,000 Canadians have logged onto his site to show their support for his bid to bring a seventh NHL franchise to Canada.

The co-CEO of Research In Motion has made a US$212.5-million bid for the financially ailing Phoenix Coyotes, an offer conditional on moving the franchise to southern Ontario.

A Phoenix bankruptcy judge will hear arguments Tuesday over who is currently in control of the Coyotes -- majority owner Jerry Moyes, who favours the Balsillie bid, or the league, which argues Moyes signed over control to the NHL in exchange for money advanced to the franchise.

Outside the court, Balsillie now has a couple of corporate heavyweights on his side.

"Labatt has a long history of supporting grassroots hockey in Canada," Charlie Angelakos, vice-president of corporate affairs for Labatt Breweries of Canada, said in a statement issued by the Balsillie group.

"Like many Canadians, we love NHL hockey and we want more of it here. Let's get behind Make it Seven and let's make it happen."

"A new franchise will be a source of pride for all Canadians and we are excited by the possibility of creating more opportunities for Canada's best players to play on their home ice, in front of hometown fans," added Paul Straus, vice-president and CEO of Home Hardware Stores.

The website also features Make it Seven clothing for sale, with net proceeds donated to minor hockey programs.

Source

I want this guy to have the team but damn, maybe there's a kernel of truth to some of Bettman's hate for the guy. I mean Balsillie is going overboard! He also did a video interview on the Star website. It's quite interesting really

<iframe width='617' height='360' frameborder='0' marginwidth='0' marginheight='0' scrolling='no' src='http://www.thestar.com/videozone/embed/634377'></iframe>

[tyler289]

Re: Broke Yotes!!

Really interesting interview. He makes some really good points. It's true that Canadians make up a large part of the NHL and really are the reason for its success, and the Board of Governors just added their first Canadian. Wow.

I want him to get a team just because it'll piss that prick Bettman off.

[Money99]

Re: Broke Yotes!!

Wow! J.B. is pulling out all the giant PR guns isn't he?

[tyler289]

Re: Broke Yotes!!

Wow! J.B. is pulling out all the giant PR guns isn't he?

If/when he gets his team (Phoenix, Nashville, whoever), the owners meetings with Bettman will be sooooo awkward as will the inevitable handshake pictures. It'll be hilarious.