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LoboFan07

May 6 2009, 09:03 AM

The Coyotes file for chapter 11 bankruptcy.

Of course, Balsille has already offered $212.5 million to buy them.

It seems the Yotes did this behind the back of the NHL, for whatever reason. Statement from Bill Daley of the NHL...

QUOTE

"We have just become aware of today's Bankruptcy Court filing purportedly made on behalf of the Phoenix Coyotes. 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. The League will appear and proceed before the Bankruptcy Court in the best interests of all of the Club's constituencies, including its fans in Arizona and the League's 29 other Member Clubs."

LoboFan07

Jun 2 2009, 01:23 AM

Update.

QUOTE

Baum set a hearing for June 9 and promised a ruling shortly thereafter. All briefs and declarations must be submitted by June 5. The relocation hearing had been scheduled for June 22, but Canadian businessman Jim Balsillie has said he will withdraw his $212.5 million offer if the sale is not completed by the end of June.

NHL Deputy Commissioner Bill Daly said the league would appeal if it loses at the bankruptcy court level, but he expressed confidence that an appeal won't be necessary.

Also, late last night (Monday), Balsillie filled his paperwork for official relocation of the Phoenix franchise and pretty much laid out every reason why the franchise should be moved to Hamilton.

LoboFan07

Jun 9 2009, 11:34 AM

A ruling is suppose to come down today...

Here's some of the things being said by the court during today's hearings...

Judge Baum asks why the NHL doesn't accelerate its review of ownership applications? NHL attys duck the question.
The judge is being equally tough on both sides
Judge trying to flush out details of "offers." Calls them "hearsay" unless they're on paper in front of him.
Judge wants to see 4 offers in writing that the NHL claim they have. Otherwise it is pure hearsay.
Baum says in his 20 years on the bench hes never dealt with so much material under seal
NHL says Balsillie refused to sign league's consent agreement to be bound by leagues rules and procedures in buying a club.

LoboFan07

Jun 9 2009, 12:05 PM

NHL making a fool out of themselves now.

QUOTE

NHL lawyers questioning health of NFL because there is no team in LA.

Just so we're clear, NHL lawyers are questioning the business health of the National Football League.

I'm going to be surprised if Basillie doesn't win this case.

LoboFan07

Jun 9 2009, 12:51 PM

The NHL has said they would set a relocation fee at $100M.

LoboFan07

Jun 9 2009, 05:28 PM

No decision today. Still think Basillie is going to walk away with a win in this case.

An auction with the date being on June 22nd has been talked about in some length, however.

LoboFan07

Sep 10 2009, 10:16 AM

The Phoenix bankruptcy auction is today. Hopefully there is a decision.

About a week or so ago, Balsillie increased his bid for the Yotes to $242.5 Million. Noone comes within $100 million of that offer.

cheaptrick77

Sep 10 2009, 04:27 PM

That's too bad ...

Talking to the "locals" during my past two trips to Arizona for Rangers' Spring Training, that team has ZERO support.

Even with Wayne Gretzky ... WOW

At least Hamilton is a great relocation city.

LoboFan07

Sep 11 2009, 11:33 AM

Yep. When I was there in February, I was completely shocked at how few people were at the game.

I knew it was bad, but good God. There was maybe 3,000 people there.

Boss302

Sep 11 2009, 09:38 PM

Hey, if I lived there, I'd go see'um play...if the Stars were in town!

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