Broke Yotes!!

[rdnk]

Re: Broke Yotes!!

They problem is, whoever buys it and keeps it in Phoenix is going to lose tons of money, and somebody else is going to have to buy them. Plus, nobody is going to be able to match Balsillies' bid. Might as well just cut out the middle man and let him do what he wants.
It's like Bettman is afraid of success...

[tyler289]

Re: Broke Yotes!!

They problem is, whoever buys it and keeps it in Phoenix is going to lose tons of money, and somebody else is going to have to buy them. Plus, nobody is going to be able to match Balsillies' bid. Might as well just cut out the middle man and let him do what he wants.
It's like Bettman is afraid of success...

When's the last time everyone praised a Bettman move?

Honestly. The winter classic?

[SPTO]

Re: Broke Yotes!!

When's the last time everyone praised a Bettman move?

Honestly. The winter classic?

Can't really give Bettman full credit for that since he co-opted an idea done by the Oilers organization in '03 so really the last move he made that got universal praise was breaking the player's union and dictating the terms of the CBA.

[tyler289]

Re: Broke Yotes!!

Can't really give Bettman full credit for that since he co-opted an idea done by the Oilers organization in '03 so really the last move he made that got universal praise was breaking the player's union and dictating the terms of the CBA.

/facepalm. God he sucks.

[rdnk]

Re: Broke Yotes!!

/facepalm. God he sucks.

He is terrible. He has done a few decent things, but as of late, especially with the Coyotes, it's like they're his baby and doesn't want to give it up for adoption, even though he can't take care of it. Why can't he admit this isn't working and be done with it.

[Money99]

Re: Broke Yotes!!

http://www.thestar.com/sports/article/647795

Just when things looked a bit bleak for Moyes, this comes in:

12:55 - Developing; judge considering ordering mediation so two sides can agree on "indemnity fee" for leafs and NHL for balsillie taking Hamilton

To me, that sounds like the judge might be leaning towards allowing the sale and relocation of the team.

However, the judge has already stated that he won't decide on that today. Yawn.

[Money99]

Re: Broke Yotes!!

They problem is, whoever buys it and keeps it in Phoenix is going to lose tons of money, and somebody else is going to have to buy them. Plus, nobody is going to be able to match Balsillies' bid. Might as well just cut out the middle man and let him do what he wants.
It's like Bettman is afraid of success...

Really, the biggest problem is where the arena is located.
Even Coyotes fans are saying that Glendale is too far of a drive and a hassle to get to.

So even if the team stays there, it's not going to get better. And that arena deal was orchestrated by Bettman. So he has nobody to blame but himself. Which is probably why he's fighting this deal tooth-and-nail. It looks very badly on him for help moving the team from Scottsdale to Glendale.

In the end, the NHL might actually be happy if the judge allows the team to be relocated and then opens the team up for bids.
There's a good chance someone could outbid Ballsillie and move the team to a location that the NHL would prefer - like Vegas, KC or even Winnipeg.

[Money99]

Re: Broke Yotes!!

The NHL gets nailed with a right-hand and is reeling against the ropes:

Baum questioning Clark of the argument this move would ruin professional sports.

Clark tried to shy away, Baum wouldn't let him.

Baum reminding Clark of the move of Johnny U's Colts from Baltimore to Indy... Baum reminding league lawyers that mayor of Indianapolis arranged for moving vans to show up at midnight and move in the middle of the night.

No lawsuit by NFL, Baum says.

League says "NFL was hopeless" and couldn't stop the move.

NHL lawyers questioning health of NFL because there is no team in LA.

LOL. So the NHL is questioning the health of the NHL. Talk about throwing spaghetti at the wall and hoping it sticks.

The judge earlier said that he's leaning towards a decision that both sides won't like.
I speculate it could be:

A. Judge will order mediation for every issue.
B. Judge will rule for relocation but Ballsillie will have to pay a large sum to Toronto and the NHL for relocating, on top of paying for the winning bid.
C. Judge will allow for relocation and open a global sale of the team.

The judge has also been very critical of the NHL's other prospective owners saying that "This old judge isn't all that excited about expressions of interest."
He's responsible for the creditors so naturally expressions of interest won't pay their bills.

So far, it sounds as if Ballsillie is slightly ahead on the cards.
Harold Lederman has it 29-28 for Ballsillie after 3 rounds.

[Money99]

Re: Broke Yotes!!

From Sportsnet:

Baum: "I have extremely lengthy record that you have given me ten feet of documents. The only offer I have seen is the one from (Balsille)."

Clark suggesting it is manipulated.

Baum: "the only offer I have seen is to buy the team and re-locate it to Hamilton, Ontario."

BOOM!
That's gotta be a huge blow to the NHL's chances of keeping the team around. Bettman keeps blowing smoke up everyone's butts talking about all these offers, but obviously it's all bunk.
The NHL was supposed to submit all other offers to the judge, but then we hear the judge say that there's only one offer on his desk.

From the sounds of things, the NHL is losing this battle, and badly.
But who knows? Sometimes the judge is harder on the side that's winning.

However, the NHL hasn't been able to prove that Glendale is a viable hockey town, the NHL has no other offers, and the judge has shot down the NHL's argument that relocation has hurt the NFL.

I don't know how the NHL is going to come away on top in this one. All the evidence is pointing towards the idea that the judge will allow the Coyotes to be sold/moved one way or another.

[Money99]

Re: Broke Yotes!!

And the NHL comes back swinging:

CBCSports.ca - Tom: From Tom Harrington: Baum predicts there may not be NHL hockey here in 2 years but likes that NHL would pay bills without conditions.

[SPTO]

Re: Broke Yotes!!

Looks to me like Balsillie might get his wish though he may have to pay the Leafs a hefty sum.

[Money99]

Re: Broke Yotes!!

Looks to me like Balsillie might get his wish though he may have to pay the Leafs a hefty sum.

That looks like it to be the case.

The judge will come up with a solution that could satisfy everyone.

He allows Ballsillie to move the team to Hamilton. The NHL hates this because they could have expanded there giving millions of $$$ in expansion fees to all the owners - money that the PA can't get a piece of.

But then the judge makes Ballsillie pay $100M to the league and then another $50M to the Leafs so that everyone gets something.

At the very least, the judge might decide that the league can continue to operate the team. I don't know what that means to the creditors but I would have to think they'd get some money or else the judge won't allow that either. Afterall, his sole intention is to make sure all the creditors get the most money possible.
And since the lawyer representing the creditors told the judge that they like the Ballsillie deal, and that any prolonging of these proceedings means the offers will be less and less, I'm inclined to believe that Ballsillie will get his team.

[GrandMaster B]

Re: Broke Yotes!!

If the NHL decides on a relocation fee and it is deemed too high by Blackberry guy he will back out. The NHL will then operate the team for the upcoming season and hold an auction open to those who are willing to keep the team in AZ. If no acceptable offers are given, then it will be opened up to the the rest of the world. Any offers that would move the team will still have to include a relocation fee. I highly doubt the Blackberry guy will pay an estimated $75 to 100 million relocation fee, the $200 million price tag for the team, the $150 to 200 million to upgrade the arena in Hamilton and any other fees that would be owed towards the City of Glendale and/or Toronto and Buffalo. If the guy wants to spend over $500 million for our team, more power to him I guess. I just hope the stockholders for Blackberry understand.

[Darkleaf]

Re: Broke Yotes!!

If the NHL decides on a relocation fee and it is deemed too high by Blackberry guy he will back out. The NHL will then operate the team for the upcoming season and hold an auction open to those who are willing to keep the team in AZ. If no acceptable offers are given, then it will be opened up to the the rest of the world. Any offers that would move the team will still have to include a relocation fee. I highly doubt the Blackberry guy will pay an estimated $75 to 100 million relocation fee, the $200 million price tag for the team, the $150 to 200 million to upgrade the arena in Hamilton and any other fees that would be owed towards the City of Glendale and/or Toronto and Buffalo. If the guy wants to spend over $500 million for our team, more power to him I guess. I just hope the stockholders for Blackberry understand.

He will pay the 100 million relocation fee and the total won't be near 500 million, he will steal the Yote's and make more money than Glendale ever could have brought him in jersey sales alone.

[Donovan]

Re: Broke Yotes!!

He will pay the 100 million relocation fee and the total won't be near 500 million, he will steal the Yote's and make more money than Glendale ever could have brought him in jersey sales alone.

In 25 years maybe, thats a lot of jerseys. I agree he will need to bargain down that 100 mil figure. A relocation fee is bull**** anyway, I don't recall Winnipeg or Quebecs buyers paying those. The fee is a total cash grab, its one thing to reimburse teams within close proximity, but thats BS.