Here we go again folks Mr B Our friend from RIM has just tendered an offer of 212 Mil for the Phoenix Coyotes. Buckle up I wonder what The Tiny perfect Little Commisioner will have to say this time
Damian Goddard of CHCH-TV sports has just reported that Jim Balsillie has tabled an offer to purchase the Phoenix Coyotes of the NHL for $212.5 million conditional on approval to move the team to Southern Ontario. Goddard said the story is running on the Canada Sports Wire.
Oski Wee Wee,
Man, every time, as a city we get excited when stuff like this happens... even selling out season tickets for a franchise we dont even have... and every time it ends in pure disappointment.
PLEASE let this time pan out!! Hockey can survive here! I'll be so disgusted if they put in another team in the GTA, up in that North York highway 7 region.
Stick it in Hamilton, right smack in the middle of Toronto, Niagara falls, Kitchener/Waterloo/Guelph and London!!
Vaughan has almost doubled in population in last number of years. Its bordered by Caledon, Brampton, King, Richmond Hill, Markham, and Toronto is directly south. Not much sense in getting any hopes up. If Bettman is going to acknowledge Southern Ontario, I'm afraid Vaughan will be the place.
Jim Balsillie has already scored a hat trick (Pittsburgh Penguins, Nashville Predators and Phoenix Coyotes) but NHL Commissioner Gary Bettman disallowed the first two goals. The third goal will probably also need to be "sent upstairs for review". Third time lucky?
I don't think Bettman can block the sale can he? Is this not done through the Arizona court system? Once he purchases the franchise will it not just go to the NHL B of G to a vote as to wether or not he can relocate the franchise?
I think if that's the case they would be out of their mind not to move the team, the league would be a lot stronger with another team in southern Ontario than if Phoenix were to retain the team.
According to this article in the Arizona Republic, the Phoenix Coyotes filed for Chapter 11 reorganization today and a $35 million portion of the $212.5 conditional purchase price would be paid to the NHL for loans it has made to the Phoenix Coyotes franchise. It appears that, unless a better offer is made by another purchaser before June 30/09, the NHL will be much less likely to resist the purchase than they were on the previous attempts by Mr. Balsillie to purchase the Pittsburgh Penguins or the Nashville Predators.[url=http://www.azcentral.com/business/articles/2009/05/05/20090505biz-coyotes0506.html]http://www.azcentral.com/business/artic ... s0506.html[/url]
The Coyotes' CEO said,"the court process will assure that the new owner and team's location will be known by June 30, though it was unclear if the NHL would still need to approve new ownership or relocation after that date.http://www.thestar.com/Sports/article/629536
Hamilton is so overdue to a return to the NHL. I hope JB is successful this time.
One suggestion I have for him is to return to the Jets name. "Hamilton Jets" sounds cool to me. (There may be copyright problems in changing the team name to "Tigers" (the name of our previous NHL team) and "Hurricanes" (the other Hamilton name I really like) has unfortunately already been taken in the NHL).
I think having an NHL team in Hamilton will be good for the Ticats. While their seasons, and perhaps to some degree, their fan base may overlap slightly there will be plenty of cross-marketing opportunities for both teams.
Balsillie is looking for help in his bid to establish a seventh Canadian NHL team. He’s asking fans who want to see a seventh NHL franchise in Canada to make their voices heard. He’s asking fans to log on to www.makeitseven.ca to add their voices to his bid.http://www.thespec.com/News/BreakingNews/article/560686
I'm certainly going to do so, and I ask all Canadian sports fans to do the same.
To tell you the truth.....I would be quite happy if the Coyotes completely folded. Not that I like to see people associated with these organizations/NHL lose their jobs....but I would like to enjoy the NHL once again as I remember it. Of course, we now have a draft that includes European players which I embrace, so going back to the days of a 12 team league is not plausible. What I would like to see is a 24 team league that dresses 3 lines, NOT THE CURRENT 4. This league is so watered down from what it could be. Anyone else hear me on this?
Gary Bettman wants to keep the NHL in all those "Hockey Hot Beds" like Florida, Nashville and Phoenix." :roll: :roll: :roll: Honestly, I hope Hamilton gets the franchise, or maybe Winnipeg or Quebec, Great Canadian Cities that got screwed when that pipsqueek Bettman started ruining the NHL.
Marty York reports that Toronto will be the recipient of the Phoenix Coyote franchise. A reliable source, has told Metro News that the name will be called the Toronto Maple Leaves.
A NHL"Inside source" has told this reporter " While the name sounds similar the spelling is different, after all, if the CFL can have two Roughriders, why can't the NHL have two Leaves?"
Stay Tuned! :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol:
And so the battle begins anew...
"[i]"The National Hockey League, meanwhile, said it has removed Moyes as the team owner.
"We have just become aware of today's bankruptcy court filing purportedly made on behalf of the Phoenix Coyotes. We are investigating the circumstances surrounding the petition, including the propriety of its filing,? the league said in a statement Tuesday night.
“ We have removed Jerry Moyes from all positions of authority to act for or on behalf of the club. The league will appear and proceed before the bankruptcy court in the best interests of all of the club's constituencies, including its fans in Arizona and the league's 29 other member clubs.?[/i]
An interesting battle is shaping up indeed.
This article by Sean Gordon and David Shoalts posted tonight on globeandmail.com provides more detail about the Balsillie offer to purchase the Phoenix Coyotes and the reaction by the NHL and a couple of team owners. Balsillie's company has apparently posted $17 million in "debtor-in-possession" financing for the franchise during the bankruptcy proceedings and is now a creditor ranking ahead of the NHL and the banks:[url=http://sports.theglobeandmail.com/servlet/story/RTGAM.20090505.wsptcoyotes5/GSStory/GlobeSportsHockey/home]http://sports.theglobeandmail.com/servl ... ockey/home[/url]
If Balsillie's point about Southern Ontario being an "unserved market" gains traction, the NHL might also have a battle on its hands in preventing the move of the franchise to Southern Ontario and trying to extract territorial compensation from Balsillie's company.
Here we go again. Hope Basille can pull it off this time. Gretzky probably wouldn't mind coming back to Ontario as coach and maybe part owner. I have seen some of Wayne's quotes this past season, saying that there should be another NHL team in Ontario. He still carries a lot of weight in NHL circles.
While Basille's at it, he should build a stadium and put a CFL team in London.