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08-04-2009, 02:08 AM
  #19
voxel
Are we legit yet?
 
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Join Date: Feb 2007
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So if the NHL ran the Yotes for another year they could become the largest secured creditor? (i.e assuming $60M/yr in losses).

In that hypothetical future, MSD/Michael Dell (the current largest secured creditor) would then make a deal with the new owner - asking for less than $80M owed, right?

NHL appears to have the upper hand - they can block any relocation and any non-approved sale - while increasing their influence in bankruptcy court (which is limited, currently).

IMO what the NHL is trying to do is find a sucker to eat the losses or a slimeball who can extract subsidies from Glendale.

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