NHL submits bid to buy the Coyotes
Just in case one of the other buyers doesn't quite work out.
Bill Daly said that if the bid is successful, the league intends to sell the team to a third party outside of the bankruptcy process.
11 months ago
Travis Hair
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Reinsdorf out?
Now the Reinsdorf group is pulling out of the Coyotes deal, NOW we know why the NHL stepped in!
clearly
though I wonder if the NHL wins the auction, they’ll just sell to Reinsdorf anyways.
"Life is just a place where we spend time between games. Hockey is where we live, where we can best meet and overcome pain and wrong and death." - Fred Shero
This just makes the story of this summer all the more interesting.
SARampagefan04
by SARampagefan04 on Aug 25, 2009 10:32 PM MST up reply actions
They would want to
but Reinsdorf may be gone for good. His issue was not with the bankruptcy court per se but working out a lease agreement for Jobing.
A Nation of Masochists I can't believe "Stay Truculent!!!1" replaced goodbye.
I think the bigger issue was with Moyes…he was willing to negotiate with Glendale, but having all the leaks from the Moyes camp and having to play a PR war with Balsillie-Moyes while also getting through the negotiation was just not what he signed on for. I think he’ll still be involved in a potential purchase. This just lets the NHL do it without a court overseeing all the details and gives them some more time to work out a larger ownership group, potentially…
I just hope this isn’t a precursor to what happened with the Expos….
World Ph*cking Champs! That was fun - let's do it again...
by Jordan Ellel on Aug 26, 2009 10:12 AM MST up reply actions
If the NHL buys the team, wont’ they be drawing some (or all) of that money from the other franchises? Are the other franchises willing to pony up that kind of dough to keep Balsillie out for another year or two until Atlanta, Florida or some other team ends up in the same predicament? Isn’t there a bit of conflict of interest here, the NHL buying one of it’s own teams? How can they compete in an auction while the other bidders must also acheive NHL’s approval to be an owner? Additionally, one would think that this will ultimately cost the BoG a fair chuck of change as this ordeal continues. Especially if/when the NHL wins the auction at a very high price and re-sells the team to Reinsdorf (or another interested party) at a heavily discounted price compared to what they paid. It will sure make for an interesting finale in September though. I wonder if Jim’s rush with a relocation date will be the nail in his coffin. Can’t wait to see how this plays out!
I would hope and pray the NHL does not buy the Coyotes.
Look at the Montreal Expos. That’s the one example I can think of off hand where a league owns a team (other than MLS or Slamball or something), and the Expos were never more than a AAAA Farm team where all of their players who made any semblance of money were trade-bait.
Not only would I see this stripping the Yotes of any and all talent they have, it would draw less.
Even if the NHL did purchase the team, then you have the issue of conflict of interest. How does punishment work? What will the team spend?
I’m more terrified for the future of the Coyotes in Phoenix now than I was before.
I'm so sick and tired of the refs explaining the calls like this is the NFL.
not comparable
you really can’t compare the sale of the expos to the coyotes. When Loria sold the expos and bought the marlins he took the entire infrastructure of the marlins with him leaving the team with nothing.
Now the NHL is saying that if a new lease isn’t negotiated, the team may have to leave? Really NHL, are you serious? Kinda acting like a wolf in sheeps clothing, saying you’re offer to buy the team will result in the team staying….unless….. the lease isn’t renegotiated, otherwise they may “have to” move the team as well? Sadly, I believe the NHL’s bid boils down to wanting to buy the team so that they get the proceeds from the sale rather than Moyes. If Moyes sells, he and the creditors split the pot. If the NHL buys, then they get all the money from the “re-sale”. It’s brilliant but it’s even worse than what Balsillie is doing in my opinion. Bettman doesn’t care if the Yotes leave, he’d just rather get the money for them leaving instead of the owner/creditors of the franchise. It seems that all parties involved have an interest in moving the team, but two are a little better at hiding their true intentions. I don’t think Yotes fans should be trusting anyone with an interest in buying their team these days.
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