NHL News: Gary Bettman on the Phoenix Coyotes situation
Gary Bettman reiterated his desire for hockey to remain in Phoenix on his Sirius/XM radio show yesterday.
"We have rules with respect to who can own franchises. We have rules to how you can relocate teams. This proceeding has to do with the application of our rules. It doesn't have anything to do with what markets we'll go to. At some point in time we might have to relocate. At some point we might have to expand. This isn't that time."
Here is the whole story from NHL.com
Meanwhile, the current Coyotes investors have asked the bankruptcy court to keep Blackberry Billionaire Jim Balsillie's offer to buy the team on the table to maximize the value as the Coyotes proceed through bankruptcy, because their is no solid "Plan B" financially for keeping the team in Phoenix.
Bankruptcy Judge Redfield Baum scheduled a June 9 hearing to determine whether the team can move to Canada, which is opposed by NHL and city of Glendale.
According to the Toronto Star, Jim Balsillie today released details of a plan to have one of the world's leading architecture firms renovate Hamilton's Copps Coliseum, where the Coyotes would be playing. He is footing the bill for renovations, this does not sound like the plan of a man who expects to lose in court.
Finally, the Globe and Mail says the Coyotes are continuing to burn through the cash.
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Meanwhile, the current Coyotes investors have asked the bankruptcy court to keep Blackberry Billionaire Jim Balsillie’s offer to buy the team on the table to maximize the value as the Coyotes proceed through bankruptcy, because their is no solid “Plan B” financially for keeping the team in Phoenix.
i’m not aware of any other offers for the coyotes.. w/e happens in court, if nobody steps up to buy the team i’m not sure bettman has much of a choice
by Ryan McFadden on May 29, 2009 1:27 PM EDT reply actions 0 recs
well, Jerry Reinsdorf had reportedly made a low ball offer, but there wasn’t any word on how serious he really was. Also one of the minority investors stepped up the other day and said he may be interested, but again, nothing has really come of it.
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by Jim Schmiedeberg on May 29, 2009 2:29 PM EDT reply actions 0 recs
A “story” from NHL.com about Gary Bettman is more like a press release ;)
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by poploser on May 29, 2009 3:13 PM EDT reply actions 0 recs
Love Ulfie
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