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We haven’t had a lot of time over the past few weeks to keep you all up to date. But here’s a quick summary of the latest happenings in the Phoenix Coyotes debacle…
The NHL Board of Governors rejected Jim Balsillie’s bid to purchase the Coyotes (suprise! hah), and gave positive responses to bids put forth by Ice Edge Holdings (a group of U.S. and Canadian investors) and Jerry Reinsdorf. Both bids were to purchase the team and keep them in Phoenix, with the Ice Edge Holdings groups also proposing that the team would play five game in Canada… in Saskatoon, Saskatchewan or Halifax, and Nova Scotia. Ice Edge is offering $150 million and Reinsdorf bid is for $148 million, both much less than Balsillie’s $212 million offer.
However, the most recent news is very good…Judge Baum has decided to let any and all interested parties be involved in the open auction for the team on September 10th, which means that Balsillie will be allowed to take part! The Judge said specifically that the offer from Balsillie would be considered. Balsille also got a little help yesterday… the largest creditor of the Coyotes (which is owned by Michael Dell of Dell Computer) said that they wanted to be paid in full and in cash, and that only Balsillie’s bid would fulfill their request. The Globe and Mail has a great article on all of the latest. Check it out.
Yes, there is still hope for Canada!!
It is time to ban together as Canadians and destroy the little yobwej.
Bettman must be stopped!
Yes! I was proudly wearing my MakeItSeven t-shirt at work yesterday, and then this news came out! Go Jim Go! No Gary No!
Here’s the latest in the bag of tricks by the criminal mastermind named Gary Bettman and a lot of owners who obviously need a crash course on how to run a successful business:
http://www.cbc.ca/sports/hockey/story/2009/08/08/sp-balsillie-bid-nhl.html
The National Hockey League is objecting to another attempt by Canadian billionaire Jim Balsillie to purchase the Phoenix Coyotes.
The league has asked U.S. Bankruptcy Court Judge Redfield T. Baum to throw out Balsillie’s bid based on an overwhelming rejection of him as a potential owner by the NHL’s board of governors.
The motion, accompanied by declarations from Boston Bruins owner Jeremy Jacobs and Minnesota Wild owner Craig Leipold, said the owners have concluded that Balsillie would be untrustworthy and that the court has no right to overturn their July 29 vote.
The owners say their opinion is based on Balsillie’s behaviour in earlier attempts to purchase the Pittsburgh Penguins and Nashville Predators.
Baum decided Wednesday to allow “any and all bidders” to be involved in a court-ordered Sept. 10 auction for the bankrupt Coyotes, giving Balsillie some hope in his quest to own a National Hockey League club.
“I would call us cautiously optimistic or guardedly optimistic, because there have been a lot of twists and turns in this case,” Balsillie spokesman Bill Walker told CBC News on Thursday. “Bankruptcy court is not a normal legal procedure by any means and there are some issues that are still before the court.”
Balsillie, the co-CEO of Research in Motion, entered an agreement in early May to make a bankruptcy purchase from Coyotes owner Jerry Moyes for $212.5 million US, with the intention of relocating the franchise to Hamilton.
Baum had previously seemed to extinguish the hopes of PSE Sports and Entertainment, Balsillie’s group, with a June 15 ruling that he would only consider bids to keep the team in its current location.
But since that time, there has only been one formal offer.
Jerry Reinsdorf, owner of the Chicago White Sox and Bulls, has fronted a $148-million bid. But representatives for the Coyotes’ largest creditor, MSD Capital, have submitted to the court that the Reinsdorf bid would not fully satisfy their interest.
Another group fronted by a mix of Canadian and U.S. businessmen, Ice Edge Holdings, filed a letter of intent with the court but has not formally bid.
The NHL, which has been funding the club, wants the team to stay in Arizona, where it has lost tens of millions of dollars since moving from Winnipeg in 1996. The league has argued that a change in ownership and success on the ice could turn the franchise around.
The next court hearing in the Coyotes case is scheduled for Tuesday afternoon in Phoenix.
Untrustworthy? Is that because someone wants to move a failing team to Canada? Gary, just go away because you are making yourself look like more of a fraud each and every passing day.
Mike Southin and Oddy Oh, as a true Canadian hockey fan I second your thoughts that Bettman must be stopped and destroyed. Hopefully both things happen and they happen soon.
Yeah, I’ve been blogging and commenting on this story on different sites all day…I can’t get over some of the quotes I’ve been reading.
The best is the comments included from Craig Leipold, accusing Balsillie of being “untrustworthy”…LOL!!! This from the same guy who was going to sell the Preds to Balsillie, until Bettman’s goon squad stepped in and killed the deal. But not before they set Leipold up in a cushy, profitable position in the Minnesota Wild ownership. I’ll never forget how I thought Leipold was gone for good, he couldn’t wait to get out from under the failed Nashville team…then the next year he’s back in the NHL?! What a joke that guy is.
Bettman has officially run the NHL into the ground. I can’t look at the NHL logo without feeling sick. What an asshole.
Canadians are tired of Bettman’s NHL. Time for the NHL to wake up, fire this bum, and get back to the business of putting an entertaining product on the ice, instead of in the courtrooms!
I’m in the middle of a career change and want to be a financial analyst. My dream job is to work in the finance department of the NHL. That way I can truly see the true financial condition of the league. My guess is that the Canadian teams along with a few American teams (i.e. Detroit, Chicago, NY Rangers, Boston) are the ones making the big bucks and generating all the revenue while the Southern teams (i.e. Anaheim, Phoenix, Tampa Bay, Florida, Atlanta, Nashville) are the ones that are financially struggling.
But I want to be able to see the true financial condition myself.
Here’s another link on the NHL’s criminal dealings involving the Phoenix Coyotes:
NHL asks court to toss out Jim Balsillie’s bid for Phoenix Coyotes
PHOENIX - The NHL has asked a bankruptcy judge to throw out Canadian billionaire Jim Balsillie’s bid to buy the Phoenix Coyotes based on the league’s overwhelming rejection of him as a potential owner.
08/08/2009 5:16:00 PM
Bob Baum, THE ASSOCIATED PRESS
The 26-page motion, accompanied by declarations from Boston Bruins owner Jeremy Jacobs and Minnesota Wild owner Craig Leipold, says the owners have concluded that Balsillie would be untrustworthy and that the court has no right to overturn their July 29 vote.
The owners say their opinion is based on Balsillie’s behaviour in earlier attempts to purchase the Pittsburgh Penguins and Nashville Predators.
“We voted to deny approval to Mr. Balsillie because we concluded he lacks the good character and integrity required of a new owner” required under NHL bylaws, said Jacobs, chairman of the league’s board of governors.
The board, made up of a representative from each NHL team, voted 26-0 against Balsillie’s application. Three abstained and one representative was absent, according to Jacobs.
Two days after the board’s vote, Balsillie filed a document in U.S. Bankruptcy Court in Phoenix contending NHL commissioner Gary Bettman and “a number of owners have a personal grudge” against him.
Balsillie also said his interview with the NHL board, which preceded the vote, “consisted of a strong and rather hostile interrogation by persons whose minds appear to have been made up before the meeting began.”
The NHL’s filing on Friday came in advance of a hearing scheduled by U.S. Bankruptcy Court Redfield T. Baum on Tuesday.
Baum ruled earlier in the week that the Sept. 10 auction of the team could include bids to relocate the franchise and specifically mentioned Balsillie’s US$212.5 million offer, which is contingent on moving the Coyotes to Hamilton.
The case has dragged on with murky twists and turns since Coyotes owner Jerry Moyes filed for Chapter 11 bankruptcy, to the surprise of the NHL, with a plan to sell to Balsillie. The NHL and the city of Glendale are fighting the move. The league contends the franchise, which has lost more than $30 million each of the last three seasons, can succeed with better management and a more success on the ice.
The NHL has long contended the bankruptcy filing is an attempt to circumvent the league’s ownership and franchise transfer process.
“This court should put an end to Mr. Moyes’ and Mr. Balsillie’s jointly devised scheme to force entry into the league through the bankruptcy ’side door,”‘ the NHL said in its Friday filing. “There is only a front door, and it is now unavailable to Mr. Balsillie in accordance with the NHL’s constitution and bylaws.”
The NHL said it has been established in prior court cases that a professional sports league has the right to ratify who owns its teams as long as there is reasonable justification for its decision.
“Settled law is that the court may not ’second-guess’ the NHL board’s decision under the undisputable facts of this case,” the league said.
Both Jacobs and Leipold said Balsillie’s answers during the interview that preceded the July 29 vote were unacceptable.
“Mr. Balsillie’s answers during the interview only served to confirm our conclusion that he is not willing to comply with league rules and procedures and would not be a good business partner,” Jacobs said.
The Bruins owner recounted questions presented to Balsillie regarding his attempt to purchase the Penguins. Balsillie’s agreement to keep the team in Pittsburgh, Jacobs said, was a main reason that the league approved him as a potential owner at that time.
The deal fell through with the NHL believing Balsillie wanted to move the franchise and the Canadian contending the league changed the terms and sabotaged the agreement.
“I reminded Mr. Balsillie that he understood full well the NHL’s rules and procedures for franchise ownership when he attempted to purchase the Penguins, the Nashville Predators, and the Coyotes, and I informed him that he should have used the ‘front door’ into the league,” Jacobs said.
Leipold, owner of the Nashville Predators at the time Balsillie attempted to buy them, said he read a statement to the board of governors explaining why he opposed him as a potential owner of the Coyotes. The statement was included as an amendment to his declaration.
Leipold accused Balsillie and his attorney, Richard Rodier, of “a surreptitious attempt” to devalue the Predators in 2005, negotiations in bad faith in 2007, and threats made to him and the NHL regarding an investigation by the Canadian Competition Bureau.
“Based on my owner experiences with Mr. Balsillie, I have formed a highly unfavourable opinion regarding him, including his suitability as an NHL owner,” Leipold said in his declaration.
The NHL said it also questioned Balsillie on statements he made to a reporter in November 2008 that the Montreal Canadiens were for sale. Canadiens owner George Gillett responded that the team was not for sale, “but the story led to a media storm that damaged the Canadiens franchise,” Jacobs said.
In June, seven months after Balsillie’s comments, Gillett announced an agreement in principal to sell the Canadiens to the Molson brewing family.
Many hockey fans have a problem with quotes from Jeremy Jacobs, Craig Leipoid and the NHL’s stance:
Quote:
“We voted to deny approval to Mr. Balsillie because we concluded he lacks the good character and integrity required of a new owner”
John Spano, Henry Samueli, Boots Del Biaggio were the subjects of fraud investigations by the Securitys and Exchange Commission (SEC) and all three men were allowed to own NHL franchises while Jim Balsillie on the other hand hasn’t been the subject of any investigations by the SEC and he is not permitted to own an NHL team?
Quote:
“This court should put an end to Mr. Moyes’ and Mr. Balsillie’s jointly devised scheme to force entry into the league through the bankruptcy ’side door,”‘ “There is only a front door, and it is now unavailable to Mr. Balsillie in accordance with the NHL’s constitution and bylaws.”
Let me get this straight. When the Devils moved to New Jersey, fees were payed to the Islanders, Flyers, and Rangers where all three teams are close to the state of New Jersey. When the Walt Disney Company received a license to place an NHL franchise in Anaheim, they were allowed to have an NHL team despite the fact that Los Angeles is about 26 miles away from the Anaheim market. Now the NHL’s constitution and bylaws magically changes because a team could be moved to a market where the league and Bettman don’t want a franchise to go to?
Quote:
“Settled law is that the court may not ’second-guess’ the NHL board’s decision under the undisputable facts of this case,”
Don’t know about this. However, the court should second guess the league’s decision on this matter based on the history of what the NHL has done in previous relocation and territorial cases. Also, what went on with the events of the original Minnesota franchise and when Quebec, Winnipeg, and Hartford lost their teams and there wasn’t any relocation fees required at the time of purchase means that the decision should be second guessed by the court as shady business practices have gone on since Bettman has been the commissioner of the National Hockey League.
Quote:
“I reminded Mr. Balsillie that he understood full well the NHL’s rules and procedures for franchise ownership when he attempted to purchase the Penguins, the Nashville Predators, and the Coyotes, and I informed him that he should have used the ‘front door’ into the league,”
The front door? What front door! Mr. Balsillie never had a chance to purchase the Penguins, Predators or the Coyotes. Here’s some detail from the AP article that should explains things:
Two days after the board’s vote, Balsillie filed a document in U.S. Bankruptcy Court in Phoenix contending NHL commissioner Gary Bettman and “a number of owners have a personal grudge” against him.
Mr. Balsillie is 100% correct when he says this about Bettman and most of the owners and if anything, it’s Mr. Bettman and his cronies that should be charged with contempt of court, fraud, etc.
Quote:
“Based on my owner experiences with Mr. Balsillie, I have formed a highly unfavourable opinion regarding him, including his suitability as an NHL owner,”
Somebody who sold the Predators to a fraud named Boots Del Biaggio and then later resurfaces in NHL ownership by purchasing the Minnesota Wild should not open his mouth. Leipoid selling the Predators and then later purchasing the Minnesota Wild looks VERY fishy and should be investigated.
This shameful display by the NHL’s board of governors and Gary Bettman on the matter of the Phoenix Coyotes needs to be addressed by the bankruptecy court in Arizona. Judge Baum did the right thing in allowing Jim Balsillie the chance to purchase the Phoenix Coyotes and Mr. Baum should not take away Mr. Balsillie’s right to purchase the Phoenix Coyotes just because the NHL & Mr. Bettman filed court documents saying to do so.
In conclusion, if Mr. Balsillie comes out of the court auction with the winning bid and the NHL decides once again to block his purchase of the Coyotes, Mr. Bettman should IMMEDIATELY announce his resignation as commissioner of the National Hockey League. Failing that, Judge Baum should come down extremely hard on Mr. Bettman and his cronies.
Sens Fan, I couldn’t agree with you more. I can’t even believe the bullshit I’m reading from Leipold’s lying mouth! Why would the NHL even let this guy near any of this drama?! They got away with installing him in Minnesota, he should be grateful he’s not in prison with the rest of these clowns…he should be laying low and not drawing attention to himself. He’s got a lot of nerve calling a guy who almost made him rich “untrustworthy”. Fortunately Bettman was able to kill that deal before it was too late.
I’d also guess the 3 abstained votes on Balsillie’s “trustworthiness” were from Calgary, Vancouver & Edmonton. Maybe the judge will crack those records open at some point.
Sarcasm and angry rhetoric aside, the sad result to all this is I’m losing interest in NHL hockey, and I used to be really hardcore! I had already cut back on the number of hours I spent paying attention to the NHL this past season, due to cancelling my cable tv, and lack of interest in the Leafs rebuilding. Now you add the inescapable fact that this league is run by a bunch of Ponzi scheming dirt bags, which has never been more evident than it has become this summer, and it’s not as easy to find the desire to watch again.
Now, I’ll keep watching because of my favourite players, and my love of the sport itself, but let me say this is one lousy off-season. Bettman and his BOG should be fucking ashamed of themselves, I don’t know how they sleep at night…although upside down in a dank cave would be my first guess. If hard core fans are losing interest, what does that say for the casual fans?! Of course, I’ll always tune in to see Bettman booed at the Stanley Cup presentation, that’s just must-see TV!
Gary Bettman’s Nixon-esque resignation cannot come soon enough for me. He is a bad man, doing bad things. If I brought the bullshit at my job the way he does at his, I’d have been let go YEARS AGO! Fire Bettman! And Fire Daly! And if there’s still room in the 7th circle of hell, fire Colin Campbell, he just plain sucks too.
Bettman has no idea the kinds of profits they are throwing away if they keep the team in Phoenix. However, once this issue is settled, then another team will just pop up for sale, Balsillie will be in the mix until he gets a team.
Sorry for the length, but this stuff makes my blood boil. Hopefully the judge finds the BOG criminally insane and locks them up, where they will do no more harm to our once great game.
the jew is bound and determined that the gentile (balsillie) will not get an NHL team.
Wow, gary, just how. Evidently, this wretched hebe is fully committed to sticking it to the goyim up north in canada.
Dreadful man
By the way: do you not get the sense that the criteria for joining the NHL’s exclusive club keeps changing on the fly in an effor to keep balsillie out? This is the sort of nonsense you would expect from a bunch of vaginas in a feminist studies department or english department at a canadian university - not from people trying to run a successful pro sports league.
sorry folks:
second sentence in my earlier note should have read, “wow, Gary, just wow,” instead of “wow, gary, just how”
stupid typo
One the chief enemies of a move to Hamilton are the Toronto Maple Leafs. They want this area for themselves and their greed will keep the NHL from moving another team into Southern Ontario.
This whole thing stinks to high heaven. In fact, I would say it has roots that date all the way back to 1925, when the Tigers were sold to a known bootlegger and moved to NY, where the club died in 1942. The Leafs will never allow competition in its market. Peddie should talk. I think the court would make some interesting discoveries during such an inquisition. PHX sympathizers should start propagndizing their own area for support of the team. They have a heck of a job ahead of themselves. This is an Ontario issue. Eventually someone is going to have to start answering some questions.
What do you guys think about this situation? Let’s say Balsillie purchases the Ottawa Senators and tells Bettman “I want to move them to Kansas City.” Do you think Bettman will jump at that chance?
If Balsillie were to purchase the Senators and tells Bettman he wants to move them to Kansas City, Bettman would probably jump at that chance if he could and as a result there would be a lot of lost NHL fans in Ottawa and most of Canada because a Canadian team had moved in that situation combined with his attitude towards Canada. Thankfully that scenario will not take place as the Senators have an awesome owner who will continue to keep them in Ottawa for many years to come. Here’s a question for the Toronto & Montreal fans who read and/or post on this website, would it be as fun if you guys didn’t have a rivalry with the Senators and we couldn’t go back and forth trashing each other’s teams? Life just wouldn’t be the same. I am sure everybody in Quebec shares the same thoughts I have because there’s no more rivalry between the Nordiques and Les Canadiens. This is one of many reasons why true hockey fans hate Gary Bettman with a passion.