Phoenix bankruptcy/ownership Part XIV: The Wrath of Baum
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08-21-2009, 10:04 PM
Join Date: May 2009
Originally Posted by
I'm afraid you're simply wrong.
A debtor trying to maintain value of his property is doing so to generate as much bidding interest as possible, to maximize return.
By not doing this, Moyes is demonstrating he is NOT attempting to maintain value of his property, because Moyes does not want more bidders, he favors one bidder.
This is most definitely a major issue "in the real world" as the league and the city of Glendale have called into question whether or not Moyes is fulfilling his fiduciary duty, and if he isn't, that control of the team be wrested from him. Failing to do this has reflected extremely poorly on Moyes and may lead to the claims of collusion with Balsillie being found valid.
It looks so bad for Moyes. Collusion.
lots of accusations by NHL, not alot of meat-
- can't tie Balsillie to Goldwater
- implication that Coyotes can't make money in Phoenix- (well they've tried for over a decade)
- claim that they have not marketed the team, sought other buyers, or sell tickets (why would they, they want the team to move)
- told the season ticket holders that the team might be leaving ( a possibility)
- wanted the team to fly aircraft that are each configured with all first class interiors, electrical outlets, and club work areas with tables.- NHL wants regular charters
- took 2 million dollars from the team pre-bankruptcy- but in Moyes mind he had lent the team money
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