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jds

Balsillie's Back

By jds, in NHL Discussions

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Chadd    916

Chadd
Posted
He can't control the fact that the NHL BoG approved him as an owner a few years ago, and now has changed its mind without explanation. He was accused of not offering enough to certain creditors, and he revised his offer. He matched the NHL's promise to leave the team in Glendale for at least one more season; they both reserve the right to move the team after that; in fact, Balsillie's offer provides far more stability to the players as employees, since they'll know in advance what's happening next year, as opposed to having another year in limbo.

There is no ambiguity as to why he was not approved, the NHL stated it publicly and in court. His actions and statements regarding the Nashville situation are the reasons why he will not be approved any time in the near future. Last I heard the main creditor group still favored the NHL plan to his, though that may have changed. The only people involved in this case that his plan benefits are himself and Jerry Moyes.

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DarkStar50    679

DarkStar50
Posted
He can't control the fact that the NHL BoG approved him as an owner a few years ago, and now has changed its mind without explanation. He was accused of not offering enough to certain creditors, and he revised his offer. He matched the NHL's promise to leave the team in Glendale for at least one more season; they both reserve the right to move the team after that; in fact, Balsillie's offer provides far more stability to the players as employees, since they'll know in advance what's happening next year, as opposed to having another year in limbo.

There is no ambiguity as to why he was not approved, the NHL stated it publicly and in court. His actions and statements regarding the Nashville situation are the reasons why he will not be approved any time in the near future. Last I heard the main creditor group still favored the NHL plan to his, though that may have changed. The only people involved in this case that his plan benefits are himself and Jerry Moyes.

JB's plan also benefits the players and their families who would have no doubt that next season is in Hamilton. A little stability in this rocky road for the players would be a worthwhile result for them.

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Law Goalie    147

Law Goalie
Posted
He can't control the fact that the NHL BoG approved him as an owner a few years ago, and now has changed its mind without explanation. He was accused of not offering enough to certain creditors, and he revised his offer. He matched the NHL's promise to leave the team in Glendale for at least one more season; they both reserve the right to move the team after that; in fact, Balsillie's offer provides far more stability to the players as employees, since they'll know in advance what's happening next year, as opposed to having another year in limbo.

There is no ambiguity as to why he was not approved, the NHL stated it publicly and in court. His actions and statements regarding the Nashville situation are the reasons why he will not be approved any time in the near future. Last I heard the main creditor group still favored the NHL plan to his, though that may have changed. The only people involved in this case that his plan benefits are himself and Jerry Moyes.

Right across the board. But no matter what reason the NHL has belatedly provided, Balsillie can't be expected to magically go from 0% approval to 100% approval with the Board. It's out of his control. With respect to things he can control in the bidding process, he's shown far more willingness to negotiate than the NHL.

I believe the major creditors were happier with the revised 242.5M, but still backed the NHL bid specifically because it left the team in Glendale for one further year. Balsillie's revision to include that condition hasn't garnered a reaction yet, surprisingly.

His plan certainly does benefit himself, and it benefits Moyes far, far more than the NHL's, which effectively gives Moyes nothing (and that iniquity hasn't been lost on Baum).

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psh    25

psh
Posted
Interesting wording in the courts order. Balsille's bid is denied "with prejudice" while the NHL's bid was denied "without prejudice" meaning they can amend their bid. Stay tuned....

If I didn't know any better, I'd say Balsille has an obsession with burning bridges everywhere he goes. He's incapable of not p*ssing off everyone he deals with, at least insofar as hockey is concerned.

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hockeyherb    1

hockeyherb
Posted

TORONTO (September 30, 2009) – The following statement regarding the court ruling in the case of the NHL’s Phoenix Coyotes bankruptcy proceeding was issued tonight by Jim Balsillie in response to media inquiries:

“From the beginning, my attempt to relocate the Coyotes to Hamilton has been about Canadian hockey fans and Canadian hockey. It was a chance to realize a dream. All I wanted was a fair chance to bring a seventh NHL team to Canada, to serve the best unserved hockey fans in the world. I believe I got that chance. I respect the court’s decision, and I will not be putting forward an appeal.”

“Nobody can deny that we are now a big step closer to having a seventh NHL team in Canada. It doesn’t matter who owns that team. When that day comes, I will be the first in line to buy a ticket to the home opener.”

“I want to take this opportunity to thank my family for all their love and support. I also want to thank the more than 200,000 fans who supported the bid online and the countless others who contacted me personally to show their support. This bid always was about the game we all love.”

So here's a question I have...who is footing the bill for the franchise now? Is anyone getting paid to play for that team or is the unpaid salary expense just piling up? I assume Moyes has shut down any line of funding considering he's not sure he's getting back any money. Is it the NHL ponying up now?

In the end, the NHL is going to get what they deserve, a big 'ole money pit in the desert. This is just the end of another chapter for the Coyotes - it's certainly not like any problems are solved other than Balsillie won't be buying the team.

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Chadd    916

Chadd
Posted
So here's a question I have...who is footing the bill for the franchise now? Is anyone getting paid to play for that team or is the unpaid salary expense just piling up? I assume Moyes has shut down any line of funding considering he's not sure he's getting back any money. Is it the NHL ponying up now?

The NHL funded the team for most of last season, they will continue to fund the hockey operations until further notice. Every dime they pay into the team will also make them a larger creditor down the road.

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DarkStar50    679

DarkStar50
Posted

Did Phoenix get a local cable contract set up for their games? Fox southwest or something? I am interested to see the crowd/attendance is a better term, at the Jobing Arena. I also look forward to Panger's positive spin on this disastrous situation. He was hit in the head way too much in nets. Keep us posted from Phoenix.

As for JB, in the end he went with the court ruling, as he said he would. Not like he had any other choice! It is too bad he couldn't play nice from the get-go to get into the NHL but that is his own fault. Maniacal egos and extreme wealth do go hand-in-hand. As for Bettman, nice job Gary! You really have single handily screwed up the NHL over the last 15+ years. The game and its loyal die hard fans deserve better. Good luck digging out of this hole. I can't wait to see the billionaire knucklehead the NHL cons into buying the Phoenix Coyotes. Maybe he'll be Russian!!!

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hockeyherb    1

hockeyherb
Posted

Would that mean Tikhonov would come back from San Antonio if the Russians buy the team??? I like watching him and Turris when they come to Austin to play the Stars - hope they never go back.

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JR Boucicaut    3759

JR Boucicaut
Posted
Did Phoenix get a local cable contract set up for their games? Fox southwest or something? I am interested to see the crowd/attendance is a better term, at the Jobing Arena. I also look forward to Panger's positive spin on this disastrous situation. He was hit in the head way too much in nets. Keep us posted from Phoenix.

As for JB, in the end he went with the court ruling, as he said he would. Not like he had any other choice! It is too bad he couldn't play nice from the get-go to get into the NHL but that is his own fault. Maniacal egos and extreme wealth do go hand-in-hand. As for Bettman, nice job Gary! You really have single handily screwed up the NHL over the last 15+ years. The game and its loyal die hard fans deserve better. Good luck digging out of this hole. I can't wait to see the billionaire knucklehead the NHL cons into buying the Phoenix Coyotes. Maybe he'll be Russian!!!

Darren Pang works for the Blues now.

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KryptOng    9

KryptOng
Posted

Interesting tidbit heard on fan590 today with Bob McCowan. His speculation, and just speculation into why Balsillie is not appealing the judge's ruling is because it involves his company RIM. RIMs stock dropped something like 25% and majority shareholders could be questioning Balsillie's public image in the past 6 months could be affecting RIM's business.

Ultimately if I was Balsillie and this was the case, I'd too drop the personal/NHL stuff and focus on my company whose actually making me the money to fund my personal interest. If RIM continues to drop, Balsillie could be voted out as Co-CEO of RIM.

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shotty    7

shotty
Posted

this may or may not be related to the coyotes, but bettman met with quebec city mayor, regis labeaume, and former norqidues owner marcel aubut to discuss the possibility of bringing an nhl team back to the city, contingent on a "cutting edge" arena being built, which is supposedly going to be announced next week.

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Chadd    916

Chadd
Posted
this may or may not be related to the coyotes, but bettman met with quebec city mayor, regis labeaume, and former norqidues owner marcel aubut to discuss the possibility of bringing an nhl team back to the city, contingent on a "cutting edge" arena being built, which is supposedly going to be announced next week.

The Isles have six years left on their lease and will likely move if progress isn't made soon.

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Chadd    916

Chadd
Posted
Kansas City has first dibs on the Islanders. They already have the arena. Isles played a pre-season game in KC last month.

Given Wang's post-game comments, I don't believe he would move the team there.

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