The NHL is Now Suing Jerry Moyes, Laughter From Fans Ensues
by Travis Hair on Mar 5, 2010 7:17 PM MST
16 comments
Reuters is now reporting that the NHL has filed suit against former Coyotes Owner Jerry Moyes. The NHL brought the case in order to seek more than 61 million dollars in damages that they claim the team has or will incur due to Moyes' scheme to sell the team to Jim Balsillie in violation of agreements he had with the National Hockey League. The League says that the following things are what they're looking to collect on from that 61 million:
- $30 million for violations of the agreement
- $10 million for aiding and abetting violations of the Coyotes' fiduciary duty to the league
- $10 million of punitive damages
- $11.6 million to cover amounts that the NHL paid to Coyotes creditors.
- The NHL said it may also seek to recover $8 million that represents unpaid salary owed to Wayne Gretzky, whether Gretzky is owed that money will be determined in the bankruptcy case.
We'll try to get our hands on the Complaint in the case as well, which should outline what exactly is going on here. Besides most of us are nearly lawyers just from following all this junk in the offseason.
As a fan of the team this move couldn't thrill me more. I hope Moyes gets his comeuppance and has to pay through the nose for all he's done to the team.
Please add your thoughts gloating in the comments.
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Hmmm. Doesn’t Moyes just have to say “why didn’t you let me sell to Balsillie for $200 million +, case closed?”
I am Mikhail Grabovski's smirking revenge.
Nope.
That’s not the agreement he had with the NHL which is why they can bring the case. He never asked to sell to him, he just took it to court right off the bat.
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JaredFromLondon: ...Odin, he's cool.
What’s his financial situation? Is this a blood from a stone thing?
I am Mikhail Grabovski's smirking revenge.
Oh no.
He owns one of the country’s biggest trucking companies in Swift Trucking. He’s still got plenty of dough.
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JaredFromLondon: ...Odin, he's cool.
Bout time...
That scheming rat piece of crap gets whats coming to him. I hope the NHL gets everything out of him. Altho Gretzky was a partial owner/coach and was promised money, I don’t necessarily agree he should get it, but thats not up to me. He’s part of the reason why the coyotes are in this financial mess anyways. He’ll always be the greatest player of all time to me, altho it doesn’t mean much to me anymore, but using your ownership/friendship to stay in the coaching position well after he shold have been fired is crap.
There are two coyotes inside every fan, a good one and a bad one, so which coyote do you feed?
True.
I think that’s why they were talking about getting it if the BK court says they have to pay him. The court never even decided on that part of the deal so they’re leaving the door open. I blame Gretz for the on ice BS, but I don’t hate him. Moyes can die in a fire.
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JaredFromLondon: ...Odin, he's cool.
Darren Pang likes you ... he really likes you
Panger40
The great folks at www.fiveforhowling.com have more on it as well.
That
Is freakin’ awesome. I love it!
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JaredFromLondon: ...Odin, he's cool.
Think they nail Basille for being a douch and having an agreement with him already?….Moyes can’t win this case…can he?
No.
Balsillie technically didn’t do anything wrong. Moyes was the one that breached the contract by going along with his plan.
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JaredFromLondon: ...Odin, he's cool.
I think I said this somewhere else today for a completely different subject, but it applies here as well … couldn’t happen to a nicer guy … ha! :)
Ever get the feeling we are on a collision course with reality?
"They who would give up an essential liberty for temporary security, deserve neither liberty or security" -- Benjamin Franklin
by ang6666 on Mar 5, 2010 8:55 PM MST reply actions
Balsillie...
Is the biggest douche ever, but Travis your right he did nothing wrong. I think tho for this years biggest douche in the Universe awards, Moyes and Balsillie are nominated. Who will win it is the question?
There are two coyotes inside every fan, a good one and a bad one, so which coyote do you feed?
Aw, Panger showing some love. That's fantastic.
I like my goals like I like my booze..... Top shelf.
by GhostOfLinkGaetz on Mar 6, 2010 7:40 AM MST reply actions
Bad idea Bettman...
Even if this case has merit, even if the defendant has the cash to pay up, going after a former owner who’s already taken a bath for a nine figure sum could have serious long-term consequences for the league. What if the Ice Edge deal doesn’t work out? Who’s going to step in to save Phoenix now that the league pulls this? Who’s going to come to the rescue of the next southern U.S. team when there’s another owner desperate to sell (and I guarantee that will happen)…
Welcome and thanks for joining.
I see your point, but at the same time I think that this doesn’t really “send a message” in the way that you’re thinking it does. Once you get to business at the level of own pro sports franchises you know that each circumstance is different. Moyes is being sued for a very specific reason. He broke an agreement he had with the NHL that said he wouldn’t do EXACTLY what he did in taking the team into bankruptcy. I think It would send a worse message not to try and go after someone like that. Then you’re just seen as a league in which your individual owners and get away with whatever they want which is what fighting this case in bankruptcy was partially about in the first place.
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JaredFromLondon: ...Odin, he's cool.
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