Phoenix bankruptcy/ownership Part XI: A Fistful of Dollars?
View Single Post
08-04-2009, 02:08 AM
Are we legit yet?
Join Date: Feb 2007
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.
View Public Profile
Find More Posts by voxel