Phoenix bankruptcy/ownership Part XIV: The Wrath of Baum
View Single Post
08-21-2009, 07:11 PM
Join Date: Jan 2005
Originally Posted by
The league wasn't aware that Moyes was shirking his duties in that regard until recently.
As they mentioned in their motions, to NOT guarantee those tickets was almost unheard of... unless the debtor was attempting to damage the team in bankruptcy rather than get maximum value for it.
Looks VERY bad on Moyes. I thought the motion to remove him from control was supposed to have been heard by now?
Why would a bankruptcy bidder, or the debtor in possession, agree to guarantee 100% of new creditor money? (That's what season ticket deposit claims are.)
The team is bankrupt and in bankruptcy. Caveat emptor for any party that sends the franchise a check.
In the real world, of course, Balsillie would happily agree to provide refunds of Glendale deposits to prevail in the auction and get the team. It might be an issue in fantasyland, but it won't be in the real world.
View Public Profile
Find More Posts by Greschner4