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Here we go again...(hockey)
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| iant56 |
| quote: | | Jim Balsillie confirmed Tuesday that he has offered to pay $212.5 million US to purchase the Phoenix Coyotes on the condition that the bankrupt team relocate to southern Ontario. Balsillie, 48, made the offer to Coyotes majority owner Jerry Moyes, consenting to buy it if he can move it, presumably to Hamilton or the Kitchener-Waterloo region, where he runs Research In Motion Ltd., maker of the popular BlackBerry mobile device. Balsillie also agreed to provide $17 million US in bridge financing to keep the Coyotes operating in advance of the proposed sale. "The current team ownership asked that I table an offer to purchase the Coyotes, and significant discussions resulted in an offer that is in the best interests of the franchise, the NHL and the great hockey fans of Canada and southern Ontario," Balsillie said in a statement. "I am excited to move closer to bringing an NHL franchise to what I believe is one of the best unserved hockey markets in the world — southern Ontario — a market with devoted hockey fans, a rich hockey history, a growing and diversified economy and a population of more than seven million people." Team ownership formally filed for Chapter 11 bankruptcy protection on Tuesday, at which time the Balsillie bid came to light. A bankruptcy hearing reportedly is scheduled for Thursday. "The courts have to make a decision on the offer," Balsillie told reporters Tuesday night in Toronto. "It's a firm offer." The NHL reacted swiftly, responding to the petition for sale and relieving Moyes of his duties with the Coyotes. "We have just become aware of today's bankruptcy court filing purportedly made on behalf of the Phoenix Coyotes," NHL deputy commissioner Bill Daly said in a statement. "We are investigating the circumstances surrounding the petition, including the propriety of its filing. We have removed Jerry Moyes from all positions of authority to act for or on behalf of the club." A spokesman for the city of Glendale, Ariz., where the team's arena is located, told reporters last week that the NHL had assumed control of the Coyotes and that the team ownership paid $351,000 US in overdue rent on Feb. 25 — reportedly after receiving a unspecified loan from the league. "Extensive efforts have been undertaken to sell the team or attract additional investors who would keep the team in Glendale," Moyes told the Arizona Republic. Moyes told the newspaper that the court process will attach a new owner and location to the Coyotes by June 30, but the sale of the franchise will still need league approval. "The league will appear and proceed before the bankruptcy court in the best interests of all the club's constituencies, including its fans in Arizona and the league's 29 other member clubs," Daly said. Tried to purchase Penguins, Predators Balsillie tried twice before to buy an existing NHL franchise and relocate it in Hamilton, only to have both efforts fall through. He struck a tentative agreement to purchase the Pittsburgh Penguins for $175 million US three years ago, but he withdrew the offer when NHL commissioner Gary Bettman intervened and reportedly imposed restrictions that he would have to keep the team in Pittsburgh. Balsillie later agreed to purchase the Nashville Predators for $238 million US from Craig Leipold in 2007, and started a season-ticket drive in Hamilton when the Leipold had second thoughts and scuttled the deal. Leipold later sold the Predators for less — $193 million US — and bought a 51 per cent majority stake in the Minnesota Wild. Balsillie contacted Buffalo Sabres owner Tom Golisano last year about the possibility of purchasing the franchise and, though receptive to a potential offer, Golisano preferred the team stay put in western New York. |
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| Yohan |
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| Dior Homme |
| Balsillie is a douchebag. He's like that guy that goes up to every girl in the club trying to pick them up and each girl telling him to off. Except this is with hockey teams. |
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| DJ Mach X |
| Hey, if he'll buy it... maybe I'll get free tickets or perks from work! |
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| geroin |
| i would support Hamilton BlackBerrys |
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| Moral Hazard |
| quote: | Originally posted by geroin
i would support Hamilton BlackBerrys |
If Ballsillie is the owner then the team will be in Waterloo Region... dude loves Waterloo, plus it's outside of Buffalo and Toronto's protected zones. That said, it's likely they would play out of Hamilton until an arena is built (I'm guessing the RIM Centre or something similar). |
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| NuERA |
he's not giving up, good for him
there should be more hockey teams in canada. i'm sure the citizens of phoenix will be real upset they lost their team, lol |
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| geroin |
| quote: | Originally posted by NuERA
he's not giving up, good for him
there should be more hockey teams in canada. i'm sure the citizens of phoenix will be real upset they lost their team, lol |
apparently they've only been in phoenix since 1996
they were winnipeg jets before that |
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| djbruuen |
Being from Hamilton, I really couldn't care less to see a hockey team get located here. I'd much rather see one of these options:
Winnipeg - I loved the jets, they had loyal fans, i'd love to see them come back
Halifax - I know its small by population, but come on, you'd have people all over nova scotia, pei, new brunswick, and even some die hards from newfoundland coming to the games. |
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| NuERA |
| quote: | Originally posted by geroin
apparently they've only been in phoenix since 1996
they were winnipeg jets before that |
lol i'm aware
wouldn't be surprised if we saw a team in Winnipeg again..not sure how soon.
quebec would be nice as well |
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| nifty narcotix |
| They started a website called makeitseven.ca (seventh canadian hockey team), where you sign up with your e-mail and postal code. It's possible they're using that as a focus group to see which regions give the most support. |
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