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04-20-2011, 11:14 AM
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Is The CHL In Trouble?

Okay lets exclude all of the rumor or talk of official moves(Odessa) to juniors or the SPHL. Those have been out for awhile and we are all aware that quite a few teams appear to be looking elsewhere but check this out:

Quote:
A VERY important piece of information. This is a portion of the public record contract between the Central Hockey League(Horn Chen) and the WPHL (Global). This JOA contract was for 10 years in which the CHL would be operated by the WPHL. This concludes July 2011. Opens up a LOT of potential.

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At the conclusion of the term of this Agreement, CHL shall have the option to purchase all of WPHL's interest in and rights related to the WPHL Teams then operating under this Agreement, and any other hockey-related assets of WPHL. Such assets shall be principally comprised of the WPHL Teams listed on Schedule A and the "grandfathered" WPHL Teams admitted pursuant to Paragraph 5. The CHL shall exercise such option by giving written notice to WPHL at least one hundred eighty (180) days prior to the expiration of this Agreement. The purchase price for the exercise of such option by either CHL or WPHL shall be the fair market value of the assets as of the end of the term of this Agreement as determined by an independent valuation expert acceptable to the WPHL and CHL. If the WPHL and CHL cannot in good faith agree on the selection of an independent third-party business valuator, then both parties will propose a firm and these two firms will be used to select the third-party valuator. Any dispute between the parties arising from the selection of the third-party valuator shall be governed by Paragraph 27 of this Agreement. Payment shall be made not later than June 15, 2011. In the event the CHL exercises its option hereunder, the term of the rights granted to ICC pursuant to Paragraph 9 hereof shall be extended for an additional ten (10) years, and the WPHL shall execute an agreement not to compete with the CHL for a period of five (5) years.

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