Jim Balsillie OUT!

[mrusse01 0]

Let the other 29 owners find out and decide for themselves. George Steinbreener wasn't what's best for baseball but look at the Yankees and baseball now: $$$$$$$.

I think Al Davis would end up being a better comparison

I think Mark Cuban would be a better comparison.

Bettman allegedly has nothing to do with if Jim Balsillie buys a team or not, it's up to the other owners....I think in reality though Bettman has a bit of a grudge against him and is probably in the ear of a few ownership groups. If Balsillie wants a team bad enough, he'll get one eventually. With enough money you can buy anything.

Cuban is always trying to do what he believes is right, Balsillie is trying to do what will benefit him the most. Most of the owners want nothing to do with him and will not approve him as the owner of ANY franchise. Those other owners don't trust him not to screw them once he gets in.

Well 8 teams at least seem interested enough in him to approach him about buying their franchise...if you believe that National Post report.

And an ownwer in the NHL trying to do only what will benefit them the most? Surely you jest....*cough* MLSE *cough*

[camhockey16 5]

how can the nhl even be taking his offers seriously?

yeah, he still works for RIM - but RIM had plenty of past financial problems and there is plenty of other dirt from his past:

"On March 5, 2007, Jim Balsillie resigned his role as chairman of RIM as the firm reported over US$250 million in past stock option accounting errors after an extensive review. He retains his roles as co-chief executive and director. He was replaced by Chief Financial Officer Dennis Kavelman"

Why would they take a risk on a guy with shady money problems?? I would sure be nervous - but apparently I have too much common sense...

[mrusse01 0]

He doesn't have shady money problems...RIM has been one of the most successful companies in North American over the last decade or so.

[camhockey16 5]

i would call 250 million in accounting errors shady money problems.

but he may have so much money that that doesnt even matter.

if i remember correctly - shortly after he made a bid to buy the penguins news came out about RIM being sued for tons of money for patent violations and if they were found guilty the company was going to be in a lot of trouble.

i think the patent dispute has been long resolved - but still why take a chance on this guy when there are plenty of other reputable investors out there?

[jds 20]

What about William (Boots) Del Baggio who faces lawsuits for acts of fraud in obtaining loans and hasn't confirmed (nor has the NHL) whether he actually did put a promised $60 million into the Predators.

From the Globe and Mail:

"William (Boots) Del Biaggio III, a minority owner of the Nashville Predators, is under siege and has apparently gone underground.

First, there was the lawsuit filed against the San Jose investor by a friend and business partner claiming Del Biaggio had falsified documents to obtain a $3-million (all currency U.S.) loan. Then there was news Del Biaggio was under investigation by securities officials and the U.S. Attorney's Office.

The latest development is a second lawsuit filed against Del Biaggio. It alleges further acts of fraud to secure a $4-million loan. The suit has been launched by the Heritage Bank, which was founded by Del Biaggio's father.

Both suits were filed after Del Biaggio, 40, said he was unable to repay the loans."

This is the guy that Bettman went with over Balsille when Balsille was trying to move the Preds to Hamilton. At least Balsille is passionate about hockey, his business practices aside.

[Chadd 916]

Well 8 teams at least seem interested enough in him to approach him about buying their franchise...if you believe that National Post report.

Since you seem to believe that somehow disputes my point;

The people selling wouldn't have to deal with him once they got his money. They would be out of the league and not have to worry about him following the rules. The 29 owners that didn't sell their team to him would be the ones stuck having to deal with his penchant for doing his own thing.

What about William (Boots) Del Baggio who faces lawsuits for acts of fraud in obtaining loans and hasn't confirmed (nor has the NHL) whether he actually did put a promised $60 million into the Predators.

From the Globe and Mail:

"William (Boots) Del Biaggio III, a minority owner of the Nashville Predators, is under siege and has apparently gone underground.

First, there was the lawsuit filed against the San Jose investor by a friend and business partner claiming Del Biaggio had falsified documents to obtain a $3-million (all currency U.S.) loan. Then there was news Del Biaggio was under investigation by securities officials and the U.S. Attorney's Office.

The latest development is a second lawsuit filed against Del Biaggio. It alleges further acts of fraud to secure a $4-million loan. The suit has been launched by the Heritage Bank, which was founded by Del Biaggio's father.

Both suits were filed after Del Biaggio, 40, said he was unable to repay the loans."

This is the guy that Bettman went with over Balsille when Balsille was trying to move the Preds to Hamilton. At least Balsille is passionate about hockey, his business practices aside.

Bettman did not pick this guy over Balsillie. The NHL BOG approved a group made up of mostly local Nashville investors to buy the team. Balsillie never closed the deal with the old ownership and never applied to the BOG for approval.

Del Biaggio was a minor investor in the Sharks before he sold that to become a minor investor in the Predators. Would you be complaining as much if he was still only a part owner in San Jose? Now if he had become the majority owner of a team that relocated to KC, there would be a serious problem.

i would call 250 million in accounting errors shady money problems.

but he may have so much money that that doesnt even matter.

if i remember correctly - shortly after he made a bid to buy the penguins news came out about RIM being sued for tons of money for patent violations and if they were found guilty the company was going to be in a lot of trouble.

i think the patent dispute has been long resolved - but still why take a chance on this guy when there are plenty of other reputable investors out there?

In the tech industry patent violations are often not what they seem. Obscure patents are often used to try and milk millions or billions from the rest of the industry. The RIM case is a good example of that.

[mrusse01 0]

Well 8 teams at least seem interested enough in him to approach him about buying their franchise...if you believe that National Post report.

Since you seem to believe that somehow disputes my point;

The people selling wouldn't have to deal with him once they got his money. They would be out of the league and not have to worry about him following the rules. The 29 owners that didn't sell their team to him would be the ones stuck having to deal with his penchant for doing his own thing.

Reportedly some of the offers were to become a partial investor in the team...and since it would be difficult for the current owners to sell a stake in the team without consent of all the exisiting owners, I presume they weren't too worried about getting such consent if they approach Balsillie.

I don't get what your point is though, so he wants to do his own thing, he's a billionaire businessman who runs one of the most successful companies in the country, what do you expect? And furthermore, how many NHL ownership groups are in this thing for something other than to make as much money as possible? Very few I would think.

[camhockey16 5]

Bettman did not pick this guy over Balsillie. The NHL BOG approved a group made up of mostly local Nashville investors to buy the team. Balsillie never closed the deal with the old ownership and never applied to the BOG for approval.

Del Biaggio was a minor investor in the Sharks before he sold that to become a minor investor in the Predators. Would you be complaining as much if he was still only a part owner in San Jose? Now if he had become the majority owner of a team that relocated to KC, there would be a serious problem.

i would call 250 million in accounting errors shady money problems.

but he may have so much money that that doesnt even matter.

if i remember correctly - shortly after he made a bid to buy the penguins news came out about RIM being sued for tons of money for patent violations and if they were found guilty the company was going to be in a lot of trouble.

i think the patent dispute has been long resolved - but still why take a chance on this guy when there are plenty of other reputable investors out there?

In the tech industry patent violations are often not what they seem. Obscure patents are often used to try and milk millions or billions from the rest of the industry. The RIM case is a good example of that.

oh i agree, the US patent system gets abused to no end. I think i read something last week about a patent troll company that tried to patent the hyperlink - so that then they could sue every website on the internet for using them..

like i said - i'm just suprised so many teams are interested in talking with the basillie guy considering they know he is just going to do whatever he wants and knowing that he has supposedly been in trouble for shady accounting.. i suppose some of the people just must be desperate?

[mrusse01 0]

He was not involved in shady accounting...no wrong doing of any kind was ever even suggested. If your company makes an accounting error, that doesn't mean the CEO is automatically a shady guy.

Stock options are also known to be a very tricky area when it comes to financial reporting.

[camhockey16 5]

He was not involved in shady accounting...no wrong doing of any kind was ever even suggested. If your company makes an accounting error, that doesn't mean the CEO is automatically a shady guy.

Stock options are also known to be a very tricky area when it comes to financial reporting.

don't say "he was not involved in shady accounting" as if you know for a fact, when neither of us really knows.. nobody will ever know - but he did resign his role as chairman after the news broke.

anyway - maybe he was just an innocent bystander that got blamed for it, or maybe it was all his fault and he should have gotten fired. either way, we will never know.

[Chadd 916]

like i said - i'm just suprised so many teams are interested in talking with the basillie guy considering they know he is just going to do whatever he wants and knowing that he has supposedly been in trouble for shady accounting.. i suppose some of the people just must be desperate?

Once they cash out, what does it matter to them?

If the NHL made every shady businessman give up their share of ownership, there would be wholesale changes around the league.