Coyotes Court in Review - Nothing Ruled On
by Travis Hair on Sep 2, 2009 5:20 PM MST
9 comments
Well for all that was supposed to happen today, it certainly looks like it was a lot of "Blah Blah Blah", "I want it." "He can't have it." and "Can too" and "Cannot". It looks as though the Coyote faithful will have to wait yet another week to find out what in the hell is going on in this quagmire.
What did we learn today? That even though moving the team moving before the season is impossible, that doesn't seem to be keeping the PSE/Balsillie team from coming up with even MORE hairbrained schemes. Today they said they'd be willing to move the team DURING THE SEASON! Really? I don't even know what to say to that. How dumb would that be. You think no one would show for a full lame duck season? Watch as they give you the bird for dangling a half season of it in front of fans. Oh and that September 14th deadline? Not so much of a deadline it seems. They'll move it if it means they win.
In other news PSE would be willing to keep the team here for a year now... If the NHL goes halfsies on the losses. Riiight. Because the real issue here is moving the team anymore. The real isue is that Balsillie is a jerk and they don't want him. But we get no rulings and are in fact no closer to resolving this thing than we were before 8 hours of hearings.
Yay... now we have to gear up for all this BS all over gain for next week. Woo. Hoo.
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The NHL and Balsillie
They way they argue at one another reminds me of an elementary school classroom. This is getting ridiculous!
by Frag on Sep 2, 2009 5:27 PM MST reply actions 0 recs
Ballsacklie still not out
The one thing I got from it is that Ballsacklie gave back most of what he started with (keep the team here for 2009-10) and threw in the NHL pays half for fun. So now the judge can see him as willing to bend, maybe? He comes back with paying all the bills for 09-10 the next time in court.
Pretty soon Judge Mull (it over) is going to have to actually decide something or at least give a solid deadline for ANYTHING or put some ice down in the court building.
by George Fallar on Sep 2, 2009 5:35 PM MST reply actions 0 recs
Seriously.
I love how their still clinging to the idea that the team can move right this very second. “Hey disrupting the entire Pacific Division as well as most of the Nortwest isn’t a big deal right? Oh we’d be violating the CBA on a regular basis? Well i’d only be for one year that’s not a big deal when the NHLPA just fired Paul Kelly to get someone more confrontational so that’ll never come up right?”
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Five For Howling
by Travis Hair on Sep 2, 2009 6:02 PM MST up reply actions 0 recs
Bankruptcy rules
Any lawyers or law school students here?
The highest UNCONDITIONAL bid wins right? So it sounds like the NHL gets the team then. Of course after they are not in bankruptcy anymore, then they can’t get of the lease can they?
by elricsi on Sep 2, 2009 8:24 PM MST reply actions 0 recs
I’m a lawyer, but don’t really know all of my bankruptcy rules…I think there is more to it re: the way the auction works than just highest unconditional bid. The conditions can be valued (i.e., make an estimate on how much the City of Glendale loses if the lease is broken and subtract that from the figure being offered). That being said, if Glendale gets $0, I know they’ve said their damages are in the hundreds of millions, so any unconditional bid for any amount would be higher…
World Ph*cking Champs! That was fun - let's do it again...
by Moridin417 on Sep 3, 2009 9:28 AM MST up reply actions 0 recs
I could use some help
Odin- I’ve been relaying information on the court proceedings to the Minnesota Wild message board. However I can’t seem to find the details of balsillie’s bid in relation to the other bids. I know the amount, but not whether it is cash or not. I know it came out in court today that the NHL bid would pay the creditors in full in cash, thats why i ask. If there are any good articles you could point me to i’d appreciate it. Thanks in advance.
by jerem77 on Sep 3, 2009 1:04 AM MST reply actions 0 recs
Balsillie’s bid (I believe) was all cash…the major obstacle being the HUGE conditions he placed on it. The NHL bid will eventually pay the creditors in cash (if sold to another owner who is relocating) or over time via some promissory notes…it will not be a cash up front bid like Balsillie. The NHL will also not be paying Gretzky or Moyes who claim to be creditors, but might not have a great claim in that regard…
World Ph*cking Champs! That was fun - let's do it again...
by Moridin417 on Sep 3, 2009 9:26 AM MST up reply actions 0 recs
Actually it came out on court yesterday that the NHL would pay cash in full at closing… unless i’m misunderstanding when closing is.
by jerem77 on Sep 3, 2009 12:17 PM MST up reply actions 0 recs
interesting, I hadn’t seen that. That’s a pretty big concession from the NHL right there…
World Ph*cking Champs! That was fun - let's do it again...
by Moridin417 on Sep 3, 2009 3:10 PM MST up reply actions 0 recs
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