Balsillie/Phoenix Part VIII: It's dead, Jim
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06-17-2009, 07:41 AM
Join Date: Jan 2005
Heard on the Fan 590 that the NHL will soon present a "firm" offer from the Reisdorf group. This should be good.
I don't get the reasoning that a lot of people here seem to think there will be an auction / sale process set up ONLY for people who want to keep the team in Phoenix. No one with any authority has actually stated this will happen, it's only the NHL's dream scenario, since it would allow them to ignore JB and any other potential buyer that wants to move the team to Hamilton / Toronto / Quebec / Kalamazoo. The court would be foolish and irresponsible to only consider those offers that keep the team in Phoenix. More offers means a better chance of maximizing returs to creditors.
JB will certainly make another offer so it's far from over. He's not gonna run away just because his timeline got pushed back. He's been approved as an owner in the eyes of the court. The judge is strongly recommending mediation between JB and the NHL. If the NHL ever makes a decision on Hamilton (seems they will have to at some point) that opens the door for all the anti-trust hoopla. In the interim JB can make noise about Tampa or any other sad sack franchise.
Anyone who thinks that Monday's ruling spells the end for JB as an owner, or keeps the Coyotes in Phoenix for the long term is kidding themselves.
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