Gothamite Posted August 7, 2009 Share Posted August 7, 2009 Correct me if I'm wrong....If Balsillie wins the bidding war, doesn't the NHL still vote to approve the change of ownership of the Coyotes?Part of the additional hearings is for the judge to state the implications of a relocation on both the Leafs. While more creditors will be paid through the Bastille bid, the judge will also weigh who will relocate and who will keep the team in glendale.Sure. The City of Glendale is a creditor, after all. Its interest ought be part of the judge's deliberations. It will be very interesting to watch this. Putting the Coyotes into bankruptcy has turned into a major headache for the NHL. I'm not sure that the judge has any responsibility to abide by the NHL's preferences. His responsibility is to the team's creditors, and he might decide to accept the highest bid regardless of whether the NHL intends to let that bidder actually play in the league. After all, the people owed money don't really care about what the team does next, they only want to be paid what they're owed, and since they're already accepting pennies on the dollar the judge will likely work to make sure that they're getting as many pennies as possible.We might find a situation where Balsillie buys a franchise at auction which is then revoked by the NHL. Prepare the lawyers.... The Green Bay Packers Uniform Database! Now in a handy blog. Link to comment Share on other sites More sharing options...
The_Admiral Posted August 14, 2009 Share Posted August 14, 2009 http://www.cbc.ca/sports/hockey/story/2009...nsdorf-sof.htmlThe lawyer for SOF Investments, the biggest creditor owed money by the bankrupt NHL franchise, said Tuesday at a hearing in U.S. Bankruptcy Court in Phoenix that SOF had reached an agreement in principle with Reinsdorf's group.. . .Lawyer Steven Abramowitz announced the deal included a "substantial buydown" of the $80 million US that SOF is owed, with the rest of the money rolled over into debt.You gotta love that crooked son of a bitch. He's going to find a way to buy the Coyotes for like five bucks up front and defer all the heavy lifting to the taxpayers. That's how he built Comiskey Park, after all. And it'll all be okay because the NHL can't wait to be humbled by the presence of a Real Big-Time Sports Mogul. Balsillie: "I'll give you the money you're owed."Creditor: "Okay, good, we'll get back to you."Reinsdorf: "I'll not give you the money you're owed."Creditor: "Sold! Hey, can I still get Michael's autograph?" ♫ oh yeah, board goes on, long after the thrill of postin' is gone ♫ Link to comment Share on other sites More sharing options...
njmeadowlanders Posted August 25, 2009 Share Posted August 25, 2009 Almost 2 weeks without touching this thread is too long:http://tsn.ca/nhl/story/?id=288798The NHL has submitted a bid to buy the Phoenix Coyotes.In a statement late Tuesday, NHL deputy commissioner Bill Daly said the league filed its own bid in U.S. bankrupcy court.Daly said the bid was necessary to "maximize the likelihood that the club ultimately will be sold to an acceptable purchaser who is committed to operating the franchise in Glendale."What they REALLY mean is that they want to "maximize the likelihood that the club ultimately will be sold to an acceptable purchaser who is committed to diving into either Kansas City or Las Vegas"...By the way, any truth to the rumor that the NHL is requiring all employees to switch to another phone than the Blackberry effective immediately? Link to comment Share on other sites More sharing options...
rams80 Posted August 25, 2009 Share Posted August 25, 2009 Beats the alternative, which is "league dissolves franchise." On 8/1/2010 at 4:01 PM, winters in buffalo said: You manage to balance agitation with just enough salient points to keep things interesting. Kind of a low-rent DG_Now. On 1/2/2011 at 9:07 PM, Sodboy13 said: Today, we are all otaku. "The city of Peoria was once the site of the largest distillery in the world and later became the site for mass production of penicillin. So it is safe to assume that present-day Peorians are descended from syphilitic boozehounds."-Stephen Colbert POTD: February 15, 2010, June 20, 2010 The Glorious Bloom State Penguins (NCFAF) 2014: 2-9, 2015: 7-5 (L Pineapple Bowl), 2016: 1-0 (NCFAB) 2014-15: 10-8, 2015-16: 14-5 (SMC Champs, L 1st Round February Frenzy) Link to comment Share on other sites More sharing options...
DEAD! Posted August 26, 2009 Share Posted August 26, 2009 By the way, any truth to the rumor that the NHL is requiring all employees to switch to another phone than the Blackberry effective immediately? How about Steve Jobs buying the Coyotes? I saw, I came, I left. Link to comment Share on other sites More sharing options...
NJTank Posted August 26, 2009 Share Posted August 26, 2009 Would the team being moved to Hamilton be the worst thing in the world? www.sportsecyclopedia.com For the best in sports history go to the Sports E-Cyclopedia at http://www.sportsecyclopedia.com Link to comment Share on other sites More sharing options...
josh_cat_eyes Posted August 26, 2009 Share Posted August 26, 2009 By the way, any truth to the rumor that the NHL is requiring all employees to switch to another phone than the Blackberry effective immediately? How about Steve Jobs buying the Coyotes? That would be not too bad. I love apple! As for the NHL going to buy the team. That's just their gimmick of getting around Balsillie. Watch though. He'll go after the Thrashers now lmao. Link to comment Share on other sites More sharing options...
HedleyLamarr Posted August 26, 2009 Share Posted August 26, 2009 By the way, any truth to the rumor that the NHL is requiring all employees to switch to another phone than the Blackberry effective immediately? How about Steve Jobs buying the Coyotes? That would be not too bad. I love apple! As for the NHL going to buy the team. That's just their gimmick of getting around Balsillie. Watch though. He'll go after the Thrashers now lmao.Again.....Balsillie can go after the Thrashers all he wants. He'll get rejected as a prospective owner before the sale gets completed. No court, Canadian or American, will force the NHL to accept Balsillie should he ever challenge that vote.Also, since the Thrashers were sold just five years ago, the current ownership and the NHL have an agreement where the team can't be sold or moved in the first 10 years after the change of ownership. Link to comment Share on other sites More sharing options...
njmeadowlanders Posted August 26, 2009 Share Posted August 26, 2009 http://tsn.ca/nhl/story/?id=288811Now Reinsdorf is out. No wonder the NHL submitted their bid.A group headed by Jerry Reinsdorf has pulled out as a potential buyer of the Phoenix Coyotes just as the NHL and a partnership of Canadian and American investors filed separate bids in U.S. Bankruptcy Court to purchase the team and keep it in Arizona.Reinsdorf's group said it was unable to meet the deadline for submitting a firm offer. It also complained of an "unwilling seller" and "an organized publicity effort designed to provide negative and misleading information to interested parties." Link to comment Share on other sites More sharing options...
Sodboy13 Posted August 26, 2009 Share Posted August 26, 2009 So Reinsdorf was probably just serving as a stopgap to buy the NHL time. The excuse that the Make It Seven effort somehow undermined the sale sure does reek of a lame copout. Prospects for the Coyotes' continued existence in Phoenix look rather dismal at this point. On 1/25/2013 at 1:53 PM, 'Atom said: For all the bird de lis haters I think the bird de lis isnt supposed to be a pelican and a fleur de lis I think its just a fleur de lis with a pelicans head. Thats what it looks like to me. Also the flair around the tip of the beak is just flair that fleur de lis have sometimes source I am from NOLA. PotD: 10/19/07, 08/25/08, 07/22/10, 08/13/10, 04/15/11, 05/19/11, 01/02/12, and 01/05/12. Link to comment Share on other sites More sharing options...
rams80 Posted August 26, 2009 Share Posted August 26, 2009 So anyway...about that "league dissolves franchise" endgame. That appears to have gone from "remote" to "might happen".After all, they were prepared to do it before, when the league was in worse straits. On 8/1/2010 at 4:01 PM, winters in buffalo said: You manage to balance agitation with just enough salient points to keep things interesting. Kind of a low-rent DG_Now. On 1/2/2011 at 9:07 PM, Sodboy13 said: Today, we are all otaku. "The city of Peoria was once the site of the largest distillery in the world and later became the site for mass production of penicillin. So it is safe to assume that present-day Peorians are descended from syphilitic boozehounds."-Stephen Colbert POTD: February 15, 2010, June 20, 2010 The Glorious Bloom State Penguins (NCFAF) 2014: 2-9, 2015: 7-5 (L Pineapple Bowl), 2016: 1-0 (NCFAB) 2014-15: 10-8, 2015-16: 14-5 (SMC Champs, L 1st Round February Frenzy) Link to comment Share on other sites More sharing options...
Corvus Posted August 26, 2009 Share Posted August 26, 2009 Just when I thought this story couldn't get any more absurd, it goes and does it. Link to comment Share on other sites More sharing options...
Sodboy13 Posted August 26, 2009 Share Posted August 26, 2009 So anyway...about that "league dissolves franchise" endgame. That appears to have gone from "remote" to "might happen".When you think about it, it's a bitch for PR, but a potential boon for expansion fees in Kansas City, Las Vegas, and/or Hamilton. That said, I don't want the Coyotes to become the NHL's version of the Indiana Firebirds, canaries in the coal mine that they were. On 1/25/2013 at 1:53 PM, 'Atom said: For all the bird de lis haters I think the bird de lis isnt supposed to be a pelican and a fleur de lis I think its just a fleur de lis with a pelicans head. Thats what it looks like to me. Also the flair around the tip of the beak is just flair that fleur de lis have sometimes source I am from NOLA. PotD: 10/19/07, 08/25/08, 07/22/10, 08/13/10, 04/15/11, 05/19/11, 01/02/12, and 01/05/12. Link to comment Share on other sites More sharing options...
The_Admiral Posted August 26, 2009 Share Posted August 26, 2009 I really don't want to see the team cease to exist. Of the relocated WHA teams, the Coyotes have been the best at paying lip service to their legacies: the Avs don't see fit to acknowledge the Nordiques (unless you believe the logo resembles Le Igloo if you squint), and the Hurricanes aren't legally allowed to call themselves the Whalers. As much as it probably pisses off native Winnipeggers, the Coyotes still maintain the Jets' retired numbers, and even ran a few whiteouts. Amidst the rest of the WHA deprogramming, that's something. The Winnipeg Jets are a fairly big deal among "rebel league" sports teams, with the Bobby Hull big splash and the ensuing dynasty. Even if it means yet another name in yet another town, I want the organization to continue in some form. Also, it looks really low-rent when a franchise folds, and would make me roll my eyes at the NHL yet again. "Trust us, the lockout will solve everything." Psh.Oh hey, that Blues article Rammy posted: neat story, neater Blues uniforms. "A tiny prairie town north of Montana." How demeaning, though I suppose that's pretty much what it is. ♫ oh yeah, board goes on, long after the thrill of postin' is gone ♫ Link to comment Share on other sites More sharing options...
SenatorJake Posted August 26, 2009 Share Posted August 26, 2009 So Reinsdorf was probably just serving as a stopgap to buy the NHL time. The excuse that the Make It Seven effort somehow undermined the sale sure does reek of a lame copout. Prospects for the Coyotes' continued existence in Phoenix look rather dismal at this point.I don't know about that. I think the NHL may outbid Jim Balsillie for the team and in turn sell the team to Reinsdorf to the tune of $148 million. The league would lose about $60-70 million, but they would get to keep Jim out of their old boy's club. This would explain why Reinsdorf backs out on the same day the NHL makes a bid. I think Gary Bettman just showed Jim Balsillie a thing or two about backroom dealings. Link to comment Share on other sites More sharing options...
BBTV Posted August 26, 2009 Share Posted August 26, 2009 Just from reading these threads, I'm starting to form the opinion that the NHL needs a Jim Balsille, or a Mark Cuban, or someone of that ilk. "The views expressed here are mine and do not reflect the official opinion of my employer or the organization through which the Internet was accessed." Link to comment Share on other sites More sharing options...
DelayedPenalty Posted August 26, 2009 Share Posted August 26, 2009 Just from reading these threads, I'm starting to form the opinion that the NHL needs a Jim Balsille, or a Mark Cuban, or someone of that ilk.Jim Balsille would be a fantastic owner in the NHL, someone who is passionate about the game, cares how his team is doing, and is a figure in the public eye (a la Mark Cuban). Link to comment Share on other sites More sharing options...
Corvus Posted August 26, 2009 Share Posted August 26, 2009 I don't see the NHL folding the team, at all. Not when Anschutz has a new arena in KC he'd love to put a tennant in, and the NHL played games in London just to make him happy. Link to comment Share on other sites More sharing options...
The_Admiral Posted August 26, 2009 Share Posted August 26, 2009 So Reinsdorf was probably just serving as a stopgap to buy the NHL time. The excuse that the Make It Seven effort somehow undermined the sale sure does reek of a lame copout. Prospects for the Coyotes' continued existence in Phoenix look rather dismal at this point.I don't know about that. I think the NHL may outbid Jim Balsillie for the team and in turn sell the team to Reinsdorf to the tune of $148 million. The league would lose about $60-70 million, but they would get to keep Jim out of their old boy's club. This would explain why Reinsdorf backs out on the same day the NHL makes a bid. I think Gary Bettman just showed Jim Balsillie a thing or two about backroom dealings.There are numerous teams who can afford to drop two million dollars on sour grapes? Man. ♫ oh yeah, board goes on, long after the thrill of postin' is gone ♫ Link to comment Share on other sites More sharing options...
rams80 Posted August 26, 2009 Share Posted August 26, 2009 I don't see the NHL folding the team, at all. Not when Anschutz has a new arena in KC he'd love to put a tennant in, and the NHL played games in London just to make him happy.It would only happen if Balsillie "won". The league wants two things. 1) To keep Balsillie out, in part because 2) the league wants to have control over franchise movements and placement and will do everything to protect that power.**-the same applies to the NFL, NBA, and MLB, hence the amicus curiae briefs they've been filing. On 8/1/2010 at 4:01 PM, winters in buffalo said: You manage to balance agitation with just enough salient points to keep things interesting. Kind of a low-rent DG_Now. On 1/2/2011 at 9:07 PM, Sodboy13 said: Today, we are all otaku. "The city of Peoria was once the site of the largest distillery in the world and later became the site for mass production of penicillin. So it is safe to assume that present-day Peorians are descended from syphilitic boozehounds."-Stephen Colbert POTD: February 15, 2010, June 20, 2010 The Glorious Bloom State Penguins (NCFAF) 2014: 2-9, 2015: 7-5 (L Pineapple Bowl), 2016: 1-0 (NCFAB) 2014-15: 10-8, 2015-16: 14-5 (SMC Champs, L 1st Round February Frenzy) Link to comment Share on other sites More sharing options...
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