Jerry Reinsdorf approved to purchase Coyotes

[CenterIce 83]

http://www.nhl.com/ice/news.htm?id=457863

In Mr. Balsillie's case, it was the unanimous vote of all members present and voting that his application not be approved.

[edicius 3,269]

Hope they actually did a background check on this guy.

Kind of surprised, considering that a while back, it sounded like Balsillie wasn't being opposed by the BoG.

[Drake_Marcus 890]

Reinsdorf gets the Coyotes for less than cost. Credators won't be paid off. A bid that's worth ~100 million more is rejected for political reasons. But the Coyotes get to stay in the town that causes them to loose 60 million a year.

Classic Bettman.

[mjlegend 155]

Reinsdorf gets the Coyotes for less than cost. Credators won't be paid off. A bid that's worth ~100 million more is rejected for political reasons. But the Coyotes get to stay in the town that causes them to loose 60 million a year.

Classic Bettman.

Even classicer Bettman would have seen them somehow end up with John Tavares in the draft lottery.

Daly: "But Gary, they weren't in the lottery!"

Bettman: "So? Hey, while I was in Santa Fe pitching an expansion team last week, did NBC call? I'm hoping they'll want to re-up for a few more years now."

[Drake_Marcus 890]

Even classicer Bettman would have seen them somehow end up with John Tavares in the draft lottery.

Daly: "But Gary, they weren't in the lottery!"

Bettman: "So? Hey, while I was in Santa Fe pitching an expansion team last week, did NBC call? I'm hoping they'll want to re-up for a few more years now."

Why wouldn't they want to re-up Gary- you give them the games for free and you move the NHL's playoff schedule around to suit the needs of NBC at a moment's notice (with no regard to how it effects the teams playing).

f*** Bettman.

[evilmrt 636]

Unsurprising news, everyone knew the NHL heavily favored the Reinsdorf bid. On the other hand, they left the door wide open for the LeBlanc bid (is this the one that would have them playing some games in Saskatoon or Halifax???).

If it has to be one of these two, I'm going to hope its Reinsdorf, for three reasons. First, and most importantly, Wayne Gretzky will NOT be back. Second, he has a reputation for having good business sense. And thirdly, NONE OF THE RIDICULOUS SASKATOON B.S. !!!!!

Not likely that a turn-around will happen in the desert for the Coyotes, but the odds improve when Wayne stops pretending to be a coach.

[CenterIce 83]

Basillie is going to press on. He believes that this ruling will not stand, because the NHL already approved of him as an owner, when he tried to buy the Predators.

http://www.theglobeandmail.com/sports/hock...article1235670/

A source familiar with the meeting said NHL commissioner Gary Bettman called Balsillie shortly after the gathering to tell him why the league was rejecting him as an owner. According to the source, Bettman cited the way Balsillie “had interacted with other member clubs.â€

However, the NHL’s rejection of Balsillie as an owner may not stand up in bankruptcy court.

During a hearing in June, Judge Redfield T. Baum told the NHL that because it approved him as an owner when he tried to buy the Pittsburgh Penguins in 2006, it could only reject Balsillie as an owner if there was a “material change†in PSE Sports & Entertainment, the company Balsillie formed to handle the Penguins and Coyotes bids.

“We do not think that Jim Balsillie’s qualification to be an NHL owner is an issue in this case, given his 2006 approval as an NHL owner,†Walker said.

“Presumably the onus will be on the NHL to demonstrate a material change in PSE’s circumstances, although no such change was raised with us,†he said. “Beyond that, we have confidence in, and respect for, Judge Baum and the legal process as this case unfolds.â€

"Mr. Walker must have been at a different meeting than the rest of the Executive Committee," Daly said via email Wednesday night. "Beyond the fact that Mr. Balsillie was never approved by the Board of Governors in 2006, his entire interview today was spent answering questions on the things he has done since 2006 that call into question his bona fides to be an NHL owner. Obviously, the board was not comfortable with approving him as a business partner, as is their absolute perogative."

Sources say the Balsillie camp believes the NHL wanted to reject him as an owner in advance of the Aug. 5 auction sale of the Coyotes, which is restricted to bidders willing to keep the team in Glendale. If Judge Baum declines to accept the bid from Reinsdorf, who is the only person to file one so far, then an auction for bidders like Balsillie, who wants to move the Coyotes to Hamilton, will be held on Sept. 10.

Edited July 30, 2009 by CenterIce

[Yzerman#19 17]

Reinsdorf must really enjoy losing money.

[Drake_Marcus 890]

Basillie is going to press on. He believes that this ruling will not stand, because the NHL already approved of him as an owner, when he tried to buy the Predators.

http://www.theglobeandmail.com/sports/hock...article1235670/

Sweet. Bettman can go eat a bag of dicks.

[CenterIce 83]

Current Phoenix owner now challenging Reinsdorf's bid in court.

http://sports.espn.go.com/nhl/news/story?id=4367691

[Drake_Marcus 890]

Current Phoenix owner now challenging Reinsdorf's bid in court.

http://sports.espn.go.com/nhl/news/story?id=4367691

Not surprising considering Reinsdorf's bid is an amazing low ball offer that should piss off everyone who stands to lose money (but not the NHL because they're among a special class of creditors that get paid first).

[Drake_Marcus 890]

Wow. Just read this on TSN:

Moyes says he is owed $300 million, and under the Balsillie deal, Moyes would receive about $100 million. But under the Reinsdorf proposal, Moyes would get little if anything because of the contention that the $300 million is lost equity and not a debt.

What a great way to treat your owners Bettman.

[uk_redwing 495]

I lol @ Bettman every day for various reasons. I think Florida could do with another hockey team. Maybe Alabama as well...all the classic hockey markets.