Balsillie/Phoenix Part VIII: It's dead, Jim
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06-17-2009, 12:19 AM
Join Date: Feb 2007
Location: Maroons Rd.
It's dead, Jim
It's not over, until it's over -- i.e., Jim is still able to write a big cheque for an insolvent franchise that will satisfy all of the secured creditors with some money left over for the unsecured creditors. Jim can also write a few other big cheques to resolve some of the other issues.
Now it's time to see a) what the City of Glendale can come up with in terms of additional tax-payer funded subsidies for a new billionaire owner, and whether that will be politically acceptable, and b) whether the NHL can find an owner that wants to operate the franchise in Glendale.
In other words, the ball is now in Glendale's and the NHL's court.
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