As most have already seen the NHL Board of Governors met today to go over the proposed bids from each of the groups involved in the Coyotes sale. Jerry Reinsdorf, Ice Edge and representatives from PSE were all in Chicago awaiting all of this today. In the end, the League said unanimously said "YES!" to Reinsdorf, Unanimously said "No!" to Balsillie and said "Um... What is this?" To Ice Edge's letter. So what's that mean for all the parties involved?
Reinsdorf- All systems are go as of now for the first auction a week from today. He has the NHL's full support an offer that makes sense and if you look at how much teams have sold for, it's actually not a bad price. Of course we can also look forward to objections from Moyes and PSE. The Reinsdorf deal keeps every game here in Phoenix, takes care of the creditors outside of Jerry Moyes and likely Wayne Gretzky are if not paid, are negotiated with secure the debts and set up repayment. Gretzky would also be out as head coach which fans in the valley have been waiting for.
Jim Balsillie/PSE- It comes as no surprise to anyone that the Board rejected his application today. I'm pretty sure they were actually counting on it. Now they can actually make all those anti-trust claims that they tried to make earlier. The previous decision from the judge was based on the fact that they had not been wronged because the NHL hadn't made an actual decision. Now that they have PSE could move forward on the claims should the court not go for the Reinsdorf bid. The statements from PSE basically say as much and that they'll keep up the fight for Canada to have more hockey. I mean... Hamilton to have more hockey. I mean... Jim to have real live NHLers to practice with.
Ice Edge Hockey- They basically got told what their offer is. Incomplete. There were reports of them actually having meetings earlier in the week to raise the 10 million dollars they want to use to pay off some of the smaller creditors. We've also learned more about who's involved with the group. We have John Breslow who was linked to rumors of an offer earlier in the summer and Anthony LeBlanc a former executive at... lemme check... Research-in-Motion. Where have I heard that before... Oh Yeah. Balsillie's friggin company! There are some other guys too, but one guy involved in the current mess of an ownership group and one guy who used to work for the guy that wants to take our team to Hamilton. That sounds like a super idea. Oh and they want to play games in Saskatoon or Halifax. Including Playoff games! Let's find ways to hurt hockey in the valley even more guys. They can probably expect objections from PSE and Moyes as well. In addition I wouldn't be surprised to hear objections from the City of Glendale and other vendors too for the economic damage playing games elsewhere would do.
Basically Coyote fans. Go Reinsdorf go!