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The Business of Hockey Discuss the financial and business aspects of the NHL. Topics may include the CBA, work stoppages, broadcast contracts, franchise sales, NHL revenues, relocation and expansion.

The NHL and Gretzky

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04-14-2011, 02:11 PM
  #1
cbcwpg
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The NHL and Gretzky

The Business of Hockey (NHL) and its best ever player.

Basically, why hasn't the NHL paid what is owed to Mr. Gretzky.

http://sports.espn.go.com/espn/comme...ory?id=6353318

"Every one of the 29 owners is part-owner of Coyotes now, and they're not looking to spend a penny more, OK? Who gives any coach or GM $8 million a year anyway? That was a mistake. No wonder that franchise went into bankruptcy. Wayne's done all right in life. He's just having a little pout. There was a lot of support to pay him. There was also sentiment the franchise went down and he should suffer like everyone else who got stiffed."

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04-14-2011, 02:30 PM
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pirate94
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Quote:
Originally Posted by cbcwpg View Post
The Business of Hockey (NHL) and its best ever player.

Basically, why hasn't the NHL paid what is owed to Mr. Gretzky.

http://sports.espn.go.com/espn/comme...ory?id=6353318

"Every one of the 29 owners is part-owner of Coyotes now, and they're not looking to spend a penny more, OK? Who gives any coach or GM $8 million a year anyway? That was a mistake. No wonder that franchise went into bankruptcy. Wayne's done all right in life. He's just having a little pout. There was a lot of support to pay him. There was also sentiment the franchise went down and he should suffer like everyone else who got stiffed."
Wayne would be a better Commissioner. At least people respect him

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04-14-2011, 02:44 PM
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AtlantaWhaler
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...and now he's doing Sketchers commercials


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04-14-2011, 02:48 PM
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Roomtemperature
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Did Gretzky leave himself or was he fired quietly letting him just leave?

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04-14-2011, 02:57 PM
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jessebelanger
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Quote:
Originally Posted by cbcwpg View Post
The Business of Hockey (NHL) and its best ever player.

Basically, why hasn't the NHL paid what is owed to Mr. Gretzky.

http://sports.espn.go.com/espn/comme...ory?id=6353318

"Every one of the 29 owners is part-owner of Coyotes now, and they're not looking to spend a penny more, OK? Who gives any coach or GM $8 million a year anyway? That was a mistake. No wonder that franchise went into bankruptcy. Wayne's done all right in life. He's just having a little pout. There was a lot of support to pay him. There was also sentiment the franchise went down and he should suffer like everyone else who got stiffed."
Because the NHL does not legally owe the money to him.
Sure there's a moral obligation, perhaps. Pretty tough to get people, even friends, to cough up 8 million based on "moral" obligations, though.

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Old
04-14-2011, 03:30 PM
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mouser
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A few points on situation:

a) Gretzky's contract to coach/manage the Coyotes was a personal services contract between himself and Jerry Moyes, not between Gretzky and the Coyotes.

b) Immediately before filing for bankruptcy Moyes signed a deal with himself calling for the Coyotes to assume all obligations of the Moyes/Gretzky personal services contract. Moyes signed the deal in two distinct roles: Moyes the individual, and Moyes the owner of the Coyotes. Gretzky was not a party to this deal transferring obligations, and reportedly only became aware of it after the bankruptcy filing.

c) Moyes then placed the Coyotes into bankruptcy, however he did not personally file for bankruptcy.

d) After the bankruptcy filing Gretzky resigned, reportedly at that time being owed $8m in deferred payments on that contract with Moyes.


IANAL--I only play one on the Internet--but I would have to believe there's a high probability Gretzky could successfully challenge that Moyes assigning his personal obligations to the team before filing bankruptcy was unlawful, and that Moyes the non-bankrupt individual still owes Wayne that $8m.

I haven't read the lawsuit that the NHL filed against Moyes last year, but my understanding is it was supposed to include the claim that Moyes still owes Gretzky that $8m not the bankrupt estate.

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Old
04-14-2011, 03:48 PM
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edog37
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Quote:
Originally Posted by pirate94 View Post
Wayne would be a better Commissioner. At least people respect him
better in what way? Gretzky sucked as a team executive/coach, what makes you think he would be a good commissioner?

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Old
04-14-2011, 03:54 PM
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Pascha
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Oh, I dunno... maybe he would have the actual interests of THE GAME at heart instead of just business?

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04-14-2011, 04:02 PM
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Human Bean
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Oh, I dunno... maybe he would have the actual interests of THE GAME at heart instead of just business?
Yeah but this is the real world where sports leagues are run as businesses by people who are a little bit more educated than hi school dropout former athletes.

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Old
04-14-2011, 05:14 PM
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Crazy_Ike
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Originally Posted by Tom Servo View Post
Yeah but this is the real world where sports leagues are run as businesses by people who are a little bit more educated than hi school dropout former athletes.
Nonsense, the only qualification one needs to be the commissioner of the NHL is to be "a hockey guy". That gives one the expertise to handle any issue the league ever faces, you know, like finding qualified majority owners and managing billions of dollars in revenue. Haven't you been paying attention?

Why hasn't Gretzky been paid? Because the guy who was supposed to pay him tried to illegally shift his contract to the team without his consent at the midnight hour before attempting to illegally move the franchise via bankruptcy. Perhaps you should ask him. The league is not, and never has been, a charity.

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