According to the on-air crew on Prime Time Sports in Toronto (FAN 590), it appears Jim is going through Bankruptcy Court to get Del Baggio's share in the team (roughly 25%).
In contrast to many beliefs the league WILL NOT have a say in Balsillie owner that part of the team (according to a legal analyst on The FAN 590). They have no say in what happens in court and it would be ruled by a judge.
It's Jim's way of getting his foot in the door. Once he's in, I would guess he'd begin the process of relocating the team.
If the league tries to block him, it's widely believed he would then take the league to court with every high priced lawyer money can by and the consensus seems to be that he would win.
Just giving everyone some insight as to what's been going on from this side.
According to the on-air crew on Prime Time Sports in Toronto (FAN 590), it appears Jim is going through Bankruptcy Court to get Del Baggio's share in the team (roughly 25%).
In contrast to many beliefs the league WILL NOT have a say in Balsillie owner that part of the team (according to a legal analyst on The FAN 590). They have no say in what happens in court and it would be ruled by a judge.
It's Jim's way of getting his foot in the door. Once he's in, I would guess he'd begin the process of relocating the team.
If the league tries to block him, it's widely believed he would then take the league to court with every high priced lawyer money can by and the consensus seems to be that he would win.
Just giving everyone some insight as to what's been going on from this side.
So, explain to me how someone that owns a quarter of a team (if he gets it) relocates said team?
By the way...the league has no say in who bids...but the local ownership group CAN veto any potential owner.
So, explain to me how someone that owns a quarter of a team (if he gets it) relocates said team?
By the way...the league has no say in who bids...but the local ownership group CAN veto any potential owner.
I said he'd begin the process to relocate the team. It's no question that Jim is very determined. Even if it's buying out the other owners
While I don't know for sure, yes the local ownership group can intervene. But that's if they want to. It all comes down to dollars.
Let's be honest...the team would be his by now if it wasn't for Bettman and the league black balling him. Why would Leapold reject an offer that paid him almost double what the team was worth? He didn't care where the team played. Once again...all about dollars.
According to the on-air crew on Prime Time Sports in Toronto (FAN 590), it appears Jim is going through Bankruptcy Court to get Del Baggio's share in the team (roughly 25%).
In contrast to many beliefs the league WILL NOT have a say in Balsillie owner that part of the team (according to a legal analyst on The FAN 590). They have no say in what happens in court and it would be ruled by a judge.
It's Jim's way of getting his foot in the door. Once he's in, I would guess he'd begin the process of relocating the team.
If the league tries to block him, it's widely believed he would then take the league to court with every high priced lawyer money can by and the consensus seems to be that he would win.
Just giving everyone some insight as to what's been going on from this side.
kthxbye
Wouldn't you and your ilk be better served by posting this on the BOH forum so you GTA residents can amass for your large circle jerks?
Like Barry asked above, how does 25% equal complete ownership?
I said he'd begin the process to relocate the team. It's no question that Jim is very determined. Even if it's buying out the other owners
While I don't know for sure, yes the local ownership group can intervene. But that's if they want to. It all comes down to dollars.
Let's be honest...the team would be his by now if it wasn't for Bettman and the league black balling him. Why would Leapold reject an offer that paid him almost double what the team was worth? He didn't care where the team played. Once again...all about dollars.
You're believing what you want to believe, without regard to the facts or what actually happened. You can say it was Bettman "blackballing" the move, but from a business perspective...the LEAGUE and its BOG weren't on board with a simultaneous petition for sale AND RELOCATION in the same ceremonious occasion, especially when the item for sale was subject to a binding lease.
If Balsillie could simply come in and throw some money at the owners, who by your speculation are already scheming to get out of town, why even bother with buying the shares? Why not offer them a golden parachute and buy the team outright? This time putting down a good-faith deposit BEFORE all of his little conditions are met...the inherent flaw in his plan that was "foiled" last time?
Anyway can somebody not in Hamilton, tell me in laymans terms what's going on.
Basically, Sillyballs wants to go through the bankruptcy court to buy Boots' share of the team (which is closer to 20% than 25%).
HSW suggests that Sillyballs wants to buy out the other ~80% of the team from the local ownership group, which I guess means he thinks the local ownership is stupid or Sillyballs is going to pretty much unload his bank account to make a convincing enough pitch to sell the team...
According to the on-air crew on Prime Time Sports in Toronto (FAN 590), it appears Jim is going through Bankruptcy Court to get Del Baggio's share in the team (roughly 25%).
In contrast to many beliefs the league WILL NOT have a say in Balsillie owner that part of the team (according to a legal analyst on The FAN 590). They have no say in what happens in court and it would be ruled by a judge.
It's Jim's way of getting his foot in the door. Once he's in, I would guess he'd begin the process of relocating the team.
If the league tries to block him, it's widely believed he would then take the league to court with every high priced lawyer money can by and the consensus seems to be that he would win.
Just giving everyone some insight as to what's been going on from this side.
WOW process of relocating the team? You guys are really reaching now. Just face it as long as the local ownership owns the team it's going NOWHERE. If this city fails it might move but it will have nothing to do with what baldsack did or hamilton it will be on this city
Basically, Sillyballs wants to go through the bankruptcy court to buy Boots' share of the team (which is closer to 20% than 25%).
HSW suggests that Sillyballs wants to buy out the other ~80% of the team from the local ownership group, which I guess means he thinks the local ownership is stupid or Sillyballs is going to pretty much unload his bank account to make a convincing enough pitch to sell the team...
i think for the short term future we are fine. If local ownership was to sell to ballsilly now after everything that has happened and everything they have said. Yeah they would be crucified and would probaly not want to ever show their faces around nashville again
I'd say less than 10%, there's no way the ownership would sell to someone that isn't going to give Nashville a fair shake unless Jimbo offers WAY more than the team's value.
i think for the short term future we are fine. If local ownership was to sell to ballsilly now after everything that has happened and everything they have said. Yeah they would be crucified and would probaly not want to ever show their faces around nashville again
And just to point out for those that aren't familiar with the members of our current ownership group (not including DelBiaggio or Woo), they are all long-time (if not life-long) Nashville area residents. Do their business here, live here, and have ties throughout the community.
They would be committing career/character suicide if they sold to Balsillie. They would seriously need to get enough money and be disconnected enough emotionally from this area that they could take the blood money they would have to have received and move out of this entire region (out of state, out of the Southeast, etc) because they would never succeed here in business ever again.
Good point. Perhaps the Thrashers don't have an attainable exit clause in their lease, or until the ownership fiasco is settled the club can't be sold ? I don't know.
Maybe Balsillie just sees a good investment to place some cash. The preferred shares do have an annual dividend of $2M or so. Plus it would finally get him into the NHL's inner circle for the future.
If you want to speculate that Nashville is moving to Hamilton, at least bring a link. Relishing a potential buyout of our franchise ON our forums is not going to happen here.
WOW process of relocating the team? You guys are really reaching now. Just face it as long as the local ownership owns the team it's going NOWHERE. If this city fails it might move but it will have nothing to do with what baldsack did or hamilton it will be on this city
