Judge rejects Balsillie's bid to move Coyotes
 

Updated Mon. Jun. 15 2009 10:16 PM ET

CTV.ca News Staff

A bankruptcy judge has rejected Jim Balsillie's bid to relocate the Phoenix Coyotes to Hamilton, but the Canadian billionaire is not giving up.

Arizona bankruptcy judge Redfield Baum said the possibility of the team's relocation presented significant issues for the court.


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cool, canada got fucked

Really?

You don't think Phoenix got fucked by Bettman and the NHL?

Let's see what happens when the Coyotes stay in Phoenix and continue to run millions of $$$ deeper in debt. They're already in bankrupcy protection and owe creditors millions. Of their five major sports teams - hockey ranks 5th for attendance...dead last.

Yep, Canada got fucked alright. :1orglaugh

Balsillie fucked himself. It looks like his own deadline forced the judge to rule against him. That's not to mention that the guy is trying to buy his way in the back door. Bettman will do everything possible to ensure the guy NEVER owns a team and quite frankly, who can blame him. If he tries to maneuver against the process when he ISN'T an owner, what would he be like if he WAS an owner? Not only has he alienated Bettman, but most, if not all of the other owners.

It appears money and arrogance can't buy everything and even though I wouldn't mind another Canadian team, and Phoenix probably should be moved, I think it's hilarious the guy failed again.

Yet it seems incredibly ridiculous for Bettman to exercise his only other option and keep a losing, bankrupt team in Phoenix. If I were a creditor - I'd be pissed right about now.

Its as if Bettman is cutting off his nose to spite his face.

$100million fee just to move the team?! PLEASE!

Well, we'll see if there are other options out there now. It's not being given to Balsillie by default. If he makes the best offer, I suspect they'll take it. But once someone is attaching conditions to their offer, there are obviously other things to take into consideration. If you're trying to sell a site for $10k and you get one offer for $8k straight up and another one for $10k with some extreme, unheard of conditions attached, that $10k offer may not be as attractive as the one for $8k.

As for the 100 million. I'd have to look into that further. Would that be to cover territorial rights compensation to Toronto and Buffalo? If it does, I'm not sure it's enough. If it doesn't, yeah, it seems a little excessive. But, just like Balsillie tried to fuck the NHL, maybe the NHL is trying to fuck Balsillie. What's good for the goose...