Broke Yotes!!

[shinderhizzle84]

read the article, here!!

http://www.nhl.com/ice/news.htm?id=421608

i knew it was bad, but i didn't realize it was THIS bad!!! poor phoenix fans, my good friend from camp is from Phoenix, and is a diehard Yotes fans. They had so much future, and if the city of Phoenix had only given them a couple of years to grow and mature, they could've been good enough to become a real contender. and we all know that contenders draw fans, no matter where.

does going bankrupt even mean that they will be moving???

[Fiddy]

where have ya been on this matter? the nhl was paying their players etc..

[SPTO]

...and now Mr. Balsillie is in on the game. This is breaking fast


Balsillie makes 212.5 mil offer for Coyotes

Since the franchise is bankrupt and out of the NHL's hands I can't see how Bettman can stop Balsillie from taking control and moving PHX now.

[shinderhizzle84]

my bad, hehe. nobody posted a thread about the yotes going bankrupt before, and nhl.com had JUST put up the article the second that i posted this (not exactly, but you catch my drift, lol) so i figured it's new news and deserved it's own thread.


i didn't realize they had been bankrupt for so long. still, if it literally JUST got put up on nhl.com, then that's another shame point on the shame-o-meter for gary bettman. first he ruins television ratings in america, and then he bankrupts phoenix (winnipeg, lol) and now he can't even find decent webmasters!! What's wrong with this guy, he's turning the NHL into a madhouse, almost like the NBA!! Why can't we do the same thing they did and get rid of him already!!

[Vince]

I'm reading that filing for chapter 11 means that they are out of the lease of Jobing.com Arena...Yikes...Looks like the Yotes are done...

[Donovan]

Quote: Originally Posted by SPTO

...and now Mr. Balsillie is in on the game. This is breaking fast Balsillie makes 212.5 mil offer for Coyotes Since the franchise is bankrupt and out of the NHL's hands I can't see how Bettman can stop Balsillie from taking control and moving PHX now.

The NHL is running the Coyotes, they've removed Moyes from any control in accepting bids for his own team. The league will try and stop this, getting a comparable offer from someone wanting to keep them in Phoenix, the owner of the White Sox was reportedly ready to make an offer, but it wouldnt have been anywhere near 212 mil. They will certainly take this to court over anti trust issues, claiming Balsillie has no right to take the Coyotes to chapter 11 bankruptcy on Moyes behalf after making his bid. And they will probably try and say they have the right to refuse a sale since the leagues best interests is to keep the team in Phoenix while Balsillies offer is only if they can be relocated.

Hopefully it works out and Canada gets a team back again. Balsillie failed to buy the Pens and Preds, Bettman clearly doesnt want him involved, but he has the league by the balls on this sale. What idiot owner will plunk down 220 million for the right to lose an additional 20-30 million every season in operating costs in Phoenix? Any potential owner would want to relocate to a better market.

Great breakdown of the bankruptcy and legal proceedings of this potential sale by Bob McKenzie on TSN:

http://tsn.ca/columnists/bob_mckenzie/?id=277696

[Donovan]

Bettman was in Phoenix yesterday to talk details with Reinsdorf (White Sox owner) about buying the team. Then Moyes went behind the league's back and filed for Chapter 11 and then contacted Balsillie.

That, in a nutshell, is why the league has stripped Moyes of authority to make decisions based on the Coyotes.

Balsillie wants the team in Ontario, Moyes wants his money and the NHL wants the team to stay in Phoenix (God knows why).

[bad_philanthropy]

You would think that any sane commissioner would be open to the idea of a passionate hockey fan with unlimited cash owning a team and sticking it wherever he wanted to. Nevermind that Balsillie would put the team in, hockey mad, populous, and reasonably wealthy Southern Ontario.

Really, what is the basis of Bettman's thinking when it comes to Balsillie and a team in Southern Ontario? Or any part of Canada for that matter? I don't understand his crusade against it all.

[Vince]

Quote: Originally Posted by bad_philanthropy

You would think that any sane commissioner would be open to the idea of a passionate hockey fan with unlimited cash owning a team and sticking it wherever he wanted to. Nevermind that Balsillie would put the team in, hockey mad, populous, and reasonably wealthy Southern Ontario. Really, what is the basis of Bettman's thinking when it comes to Balsillie and a team in Southern Ontario? Or any part of Canada for that matter? I don't understand his crusade against it all.

I think it's also the fact that the So.Ontario team would be stepping into the territory of the Bills, and Red Wings, not to mention the Leafs.

Regardless, Phx clearly isnt a viable NHL market. I think Ballsillie will be granted ownership, but then the BOG has to vote on him actually being appointed owner...That's where I can see it getting ugly if they say NO.

[Money99]

So much for Ballsillie playing it on the down low and going thru the regular channels.

The NHL will be on hand for the bankruptcy hearing on Thursday and try to flex their muscles in keeping the team in Phoenix.

But like Vince pointed out, since the team has filed chapter 11 the lease has been broken and the team can be moved without any reverberations.

The only chance the NHL has to keep the Coyotes in Phoenix is if someone outbids Balsillie and keeps them there.
Otherwise, it looks pretty certain the Yotes are moving to Ontario.

Ballsillie's not a dumb guy so I'm sure he's done his homework and made sure this is nearly iron clad. Because if he's not successful this time, he'll never be allowed to purchase a team.

It was reported on XM Home Ice that the NHL is not happy about this at all and some owners are ticked. But I have a feeling the owners would rather J.B. buy the team and move it rather than continue to shell out $$$ to a sinking ship.

And the next rumor has it that KHL owner Medvedev wants to buy a team and questions why there isn't a team in Quebec.