The NHL Wins, Sort Of
Judge Redfield T. Baum finally got around to booting Jim Balsillie out of the running for the Phoenix Coyotes, a turn of events the NHL was quick to claim as a victory. I suppose it was, but with triumphs like this one, who needs failures?
First, it means the NHL is (or will be) the owner of the Phoenix Coyotes, a franchise that will continue to bleed copious amounts of cash this season. It means the NHL has to pump in the cash until Bettman can find a buyer and convince the city of Glendale to change the lease on the arena. That’s a win, all right. Good luck.
Second, Baum did not approve the NHL bid because he was not willing to let the league throw Jerry Moyes and Wayne Gretzky under the NHL bus, at least not without a trial. Does the league acknowledge that the team owes an extra $122 MM or does the league go back to court? Stay tuned for Gary Bettman vs. Wayne Gretzky.
It never ends.
Postscript: If Jim Balsillie really ever believed this longshot was going to succeed, he had a rough day. If Jim Balsillie has decided that poking Bettman in the eye with a sharp stick is a fun hobby, he’s had a fabulous summer with it.
Let the analogies to Pyrrhus of Epirus begin!
After the last hearing, I had a difficult time seeing how Baum could rule for either side. I too was skeptical that Balsillie would walk away with the Coyotes, but I felt the NHL was trying to ignore too much of the unpleasant side of this affair– too much money was owed to keep the team in Glendale, while it could take even more to let the team leave.
I suspect that Balsillie did win the one thing I believe he wanted– a public admission that Hamilton was not just a viable market, but potentially could leapfrog into a rank that places it among the Original Six in terms of value.
Let the analogies to Pyrrhus of Epirus begin!
I very nearly did write something about a pyrrhic victory, but decided it was a little obvious.
I suspect that Balsillie did win the one thing I believe he wanted– a public admission that Hamilton was not just a viable market, but potentially could leapfrog into a rank that places it among the Original Six in terms of value.
I think Balsillie’s motives are one of the most interesting questions. Sure he wants a team in Hamilton, but I think it is more than that. If he can’t be a billionaire playing with his hockey team, he can be a billionaire trying to get a hockey team. The white knight taking on Bettman to return hockey to Canada… he’s having fun.
I don’t think he is going to go away. What next? Maybe he can go to Palace Sports and Entertainment and offer to buy the Tampa Bay Lightning debt. Whatever, I expect it to be fun to watch. If I had $3 billion I might be willing to spend money to make Bettman’s life miserable. How pissed is Balsillie?
It’s okay for me to be obvious. I don’t have the luxury (or wit) to have my own widely read and highly regarded blog!
I think once some of the BoG members went after Balsillie publicly, on top of the 11th hour changes during the Pittsburgh bid, he decided to put some of his money where his mouth is, so-to-speak. They were playing him for a fool during that bid. Lemieux’s pathetic excoriation after Balsillie withdrew his offer could only be exacerbated by his admission that he used KC to hold over Pennsylvania’s and Pittsburgh’s governments. And they called him a liar and lacking in character?
I hope Balsillie does continue to poke a stick in Bettman’s eye. He’s earned the privilege.