Balsillie/Phoenix Part VIII: It's dead, Jim
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06-17-2009, 12:00 AM
Join Date: Sep 2004
Location: North of the Tank
Montreal Gazette on ruling
In his decision, Baum said Moyes and Balsillie failed in their argument that antitrust law could be used to circumvent the NHL constitution and allow the team to move against the league's will.
Ottawa-based sports business analyst Howard Bloom said despite Monday's ruling, the Coyotes are still on shaky ground. He said the league will likely be forced to operate the Coyotes next season with potential losses reaching $30 million — or a little more than $1 million for every other team in the league.
"The NHL is going to clearly have to show that the [alleged four] bids that they had were legitimate," said Bloom. "There aren't many people out there that believe those bids are legitimate or believe they have enough money to satisfy the creditors."
"Some teams that have filed for bankruptcy have come back stronger than ever," Coyotes president and chief operating officer Douglas Moss told reporters Monday night. "We saw signs of that Friday night in Pittsburgh. Three years ago, (the Chicago Blackhawks) had some of the lowest season-ticket bases in the National Hockey League. They've turned those franchises around and (we're) very confident we can turn this franchise around.
"There is no doubt in my mind that this franchise can and will be successful right here in Phoenix."
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