: News Article:
New info on the Balsillie takeover
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10-06-2008, 12:44 PM
Join Date: Mar 2006
Originally Posted by
According to the on-air crew on Prime Time Sports in Toronto (FAN 590), it appears Jim is going through Bankruptcy Court to get Del Baggio's share in the team (roughly 25%).
In contrast to many beliefs the league WILL NOT have a say in Balsillie owner that part of the team (according to a legal analyst on The FAN 590). They have no say in what happens in court and it would be ruled by a judge.
It's Jim's way of getting his foot in the door. Once he's in, I would guess he'd begin the process of relocating the team.
If the league tries to block him, it's widely believed he would then take the league to court with every high priced lawyer money can by and the consensus seems to be that he would win.
Just giving everyone some insight as to what's been going on from this side.
Wouldn't you and your ilk be better served by posting this on the BOH forum so you GTA residents can amass for your large circle jerks?
Like Barry asked above, how does 25% equal complete ownership?
Thanks for your insight.
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