Balsillie/Phoenix Part VIII: It's dead, Jim
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06-17-2009, 02:11 AM
Join Date: Sep 2008
Originally Posted by
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.
Is it not true PHo is stuck with a watchdog group the GI who will have no part of a new less expensive lease on Glendales arena or sue , seems to me its losers as usual in Coyote land and just bigger creditor bills growing by the day , at this rate NHL wil have to give a local owner the team for a buck to pay the lease off , and JB is a bad guy lol
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