Phoenix Coyotes bankruptcy auction is today...

[SidDithers]

and there are only 2 bids on the table.

$140 million from the NHL, who would own and operate the team in Pheonix
$242.5 million from Jim Balsillie, Blackberry mogul, conditional on his moving the team to Hamilton, Ontario

Yesterday, the judge announced he might reject both bids, and cancel the sale.

http://www.theglobeandmail.com/sports/lawyers-expected-to-grill-bettman/article1282305/

Gary Bettman, NHL Commissioner, will be the only one taking the stand today. I'll check to see if anyone is live blogging his testimony.

Sid

[Forkboy]

1. My solution....

[SidDithers]

4. Hotlinked image didn't work for me...

but it was this, right?


I don't think Canadians are too concerned about where the 'yotes end up, as long as it's somewhere north of the 49th parallel. :hi:

Sid

[Forkboy]

5. That was the one.

:)

And yes, I suspect anywhere in the Great North will be acceptable to Canadians. And me too, for that matter.

[JonLP24]

2. I can't remember the last time I met a Coyotes fan

And I lived in the Phoenix-metro area 14 out of the last 18 years. I'm thinking they had much better fan support in Winnipeg.

[SidDithers]

3. Further to the story. Stephen Brunt's opinion column today...

http://www.theglobeandmail.com/sports/hockey/bettman-meets-his-match/article1281504/

As he stands on a tiny spit of land with the water rising all around him, Gary Bettman must now understand his great miscalculations.

Taking on a single-minded, driven, hyper-competitive billionaire in a battle that revolves around cash, lawyers and resolve was perhaps unwise.

Believing that, after outflanking him once, outflanking him twice – the second time with the aid of the now incarcerated William (Boots) Del Biaggio – Jim Balsillie would simply pack his duffel bag and head back to Waterloo, Ont., was naive in the extreme.

Worrying more about image than substance, pretending that all was well in Phoenix while allowing the door of bankruptcy to swing wide open, was a massive tactical error. And now it all comes down to a single judge in a single jurisdiction given ever-diminishing options, his skepticism naturally high having been told several stories that simply weren't true.

Bettman is hated, hated up here. There's going to be great joy in Mudville if he gets his hat handed to him during these proceedings.

Sid

[SidDithers]

6. Live blogging from Phoenix courtroom here...

http://www.theglobeandmail.com/sports/let-the-auction-begin/article1283822/

Edit: Bettman to take the stand at ~2:30 pm ET

Sid

[sixstrings75]

7. Can someone please explain to me why Balsillie is so hated?

Please.


Isn't this exactly what the NHL needs right now?

A young, rich, passionate owner???

Why is the NHL so backwards???

[SidDithers]

8. It's mostly because he's trying to move an existing team...

But I think the real animosity, at least from the league, goes back to his attempt to purchase the Nashville Preds. He had an agreement in place with Craig Leopold for $220 million, but the NHL added additional restrictions to the deal at the 11th hour. Of course, Balsillie backed out, and Leopold ended up selling to Boots Delbiaggio (who has subsequently been sent to jail for fraud) for $170 million.

Leopold then turned around and, with the blessing of the NHL, bought the Minnesota Wild. It has also been subsequently revealed, during Delbiaggio's bankruptcy proceedings that Leopold is one of his creditors. Yup, you read that right. Leopold lent money to Delbiaggio, so Boots could by the Preds for $50 million less than Balsillie was offering, and then purchased the Minnesota team. (no quid-pro-quo there, surely)

Balsillie is a bull in a china shop, and feels that since he's been dicked around by the NHL twice in trying to buy a team (he tried to buy Pittsburgh too), the only way he's going to get a team that he can put in Hamilton is to challenge the NHL through the courts. There is a great deal of ego involved as well, with both Balsillie and Bettman.

Eventually, I think the other owners will wise up and Balsillie will get his Hamilton team. YOu're right - he's young, passionate about the game, and has very, very deep pockets.

If it's not Phoenix, then it will be another of the failing NHL teams in false southern-US hockey markets.

Next up: Atlanta :hi:

Sid (about 20 minutes from Hamilton, and following the issue closely)

[sixstrings75]

10. Still, I would like to see him get the coyotes and move them...

Dump all ties with Gretzky as well...

NHL needs to smarten up and turf Bettman, asap.

I am also 20 min's from Hamilton...

[SidDithers]

9. Update...

Judge Redfield T Baum did not issue a ruling after 2 days of testimony. He expects to take at least a week before making his ruling.

Sid

[Forkboy]

11. Typical.

:)