Non-Ownership Thread: Who Cares Edition
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02-16-2013, 03:57 PM
Avoiding the Cap
Join Date: Dec 2002
Location: Since 2015
Originally Posted by
Does the guarantee give the league full protection from any monetary losses?
It's a $60 million guaranty, which is more like a security deposit that can be forfeited if you act improperly. I believe the NHL makes owners sign these personally (and not through shell corporations like Dewey Ranch) in order to hold them accountable should something go wrong. So for all you hoping Moyes gets reamed in court, his day may yet come. It could be argued that his actions forced the NHL to take control of the team and thus lose money in the process. For damages, it doesn't even have to be on paper. They can argue that they've lost brand value via his shenanigans. It is possible that they get the full amount and are reimbursed for their troubles, but it is in no way a sure thing.
Does anyone know where the case stands? If the proceedings involve a person (Moyes) rather than an LLC, is that information private? It could be possible that things are moving behind the scenes. $60 million lopped off the price of the team would probably be enough to keep it here...
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