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GM Hockey » The other NHL teams » General Hockey talk » Balsillie and Bettman Go To War

Balsillie and Bettman Go To War

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451Balsillie and Bettman Go To War - Page 31 Empty Re: Balsillie and Bettman Go To War Fri Aug 07, 2009 9:24 am

shabbs


Hall of Famer
Hall of Famer
wprager wrote:"36 more sleeps" equals MediaWatch? You didn't teach me to fish -- you just taught me how to translate one single phrase from a very weird language.
No no no... that link provides access to the media feed... you'll notice it changes throughout the day to reflect a newer news story...

Facepalm

Maybe I should have highlighted the "more" instead...

Wink

452Balsillie and Bettman Go To War - Page 31 Empty Re: Balsillie and Bettman Go To War Fri Aug 07, 2009 9:26 am

Guest


Guest
FireOnIce wrote:How does this process work? Is it a silent auction? If Balsillie comes up with the highest bid, which I assume he will, does he automatically get the team? Is he free to move it to Hamilton? Can the NHL stop Balsillie is he wins the bid?

Sorry to post this again, but does anyone know the answer to some of these? Shrug

453Balsillie and Bettman Go To War - Page 31 Empty Re: Balsillie and Bettman Go To War Fri Aug 07, 2009 9:31 am

shabbs


Hall of Famer
Hall of Famer
FireOnIce wrote:
FireOnIce wrote:How does this process work? Is it a silent auction? If Balsillie comes up with the highest bid, which I assume he will, does he automatically get the team? Is he free to move it to Hamilton? Can the NHL stop Balsillie is he wins the bid?

Sorry to post this again, but does anyone know the answer to some of these? Shrug
It's certainly not "silent"... the bidders have to make official bid submissions and then from what I can tell, the judge will analyze each bid and make the choice for the one that he feels is "best" for the team/creditors/etc... There are at least three bidders - Balsillie, Reinsdorf and this Ice Edge Holdings group.

This is bankruptcy court so getting the most value for the creditors is a top priority... but we've seen before that the judge doesn't want to be rocking the boat too much with how the NHL does it's internal management.

It will be interesting if he does decide that Balsillie's bid is the best one... yet the NHL will refuse to accept him as an owner.

454Balsillie and Bettman Go To War - Page 31 Empty Re: Balsillie and Bettman Go To War Fri Aug 07, 2009 9:32 am

SeawaySensFan

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Franchise Player
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FireOnIce wrote:
FireOnIce wrote:How does this process work? Is it a silent auction? If Balsillie comes up with the highest bid, which I assume he will, does he automatically get the team? Is he free to move it to Hamilton? Can the NHL stop Balsillie is he wins the bid?

Sorry to post this again, but does anyone know the answer to some of these? Shrug

These are all simple questions but the process required to answer them will be complex.

If he wins the bid, the NHL will do whatever it can to block a move. They may attempt a prohibitive relocation fee or other tactics to get what they want. Balsillie will sue to get what he wants. Round and round we go.

455Balsillie and Bettman Go To War - Page 31 Empty Re: Balsillie and Bettman Go To War Fri Aug 07, 2009 9:32 am

davetherave

davetherave
All-Star
All-Star
[quote="SeawaySensFan"]
davetherave wrote:Breaking News: a new judge has been appointed to oversee the September 10th auction. This judge may be familiar to some of you:

Lance Ito?

Here you go Smile

456Balsillie and Bettman Go To War - Page 31 Empty Re: Balsillie and Bettman Go To War Fri Aug 07, 2009 9:36 am

Guest


Guest
Thank you to Shabbs and Seaway. Much appreciated. Cheers

457Balsillie and Bettman Go To War - Page 31 Empty Re: Balsillie and Bettman Go To War Fri Aug 07, 2009 9:45 am

wprager

wprager
Administrator
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"Silent" and "Balsillie" don't seem to belong together.

Has the judge ruled yet that declaring bankruptcy is the only things that can be done? Because if the NHL says they will run the club there's not much that the auction will achieve. Or am I missing something? If there is an auction there is no way Balsillie can lose -- the main concern is getting the creditors taken care of, and his bid is infinitely superior in that regard.

However if he wins the bid and gets the franchise, he still cannot just up and leave. There would be legal ramifications with the lease with the city, plus the BoG has to approve a franchise move, right?


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458Balsillie and Bettman Go To War - Page 31 Empty Re: Balsillie and Bettman Go To War Fri Aug 07, 2009 9:58 am

shabbs

shabbs
Hall of Famer
Hall of Famer
I don't think the judge was ever ruling on if bankruptcy was the right way... he was ruling on who was running the team and did they have the right to bring it into bankruptcy... I think he deferred that to the NHL/Moyes working it out earlier and then focused on Balsillie's bid... which he deemed there was not enough time to get it all done.

So, now we're on to a wide-open auction where Balsillie should win it based on his bid giving the most to the creditors.

Not sure what will happen after that... the NHL will fight it tooth and nail.



Last edited by shabbs on Fri Aug 07, 2009 9:58 am; edited 1 time in total

459Balsillie and Bettman Go To War - Page 31 Empty Re: Balsillie and Bettman Go To War Fri Aug 07, 2009 9:58 am

Guest


Guest
There are a few things to consider here. The auction process is for the asset itself. Anyone can bid on that asset and the creditors divide the money as in so many cents on the dollar.

It seems that Balsilie will make a bid based on the asset with a condition that he gets to move the team. From there it is legal beagle time. I am sure that is when the real fight begins in earnest. I imagine that Balsilie will win the bidding then enter the negotiation/law suit stage with the league. The judge will impose a deadline for the conditions to be met. The league will push as hard against the deadline as possible so that it falls to the next bidder. In the end the losers here are the constituents of Glendale who are going to have an albatross in their city for a long time, either that or an increased tax bill with some shister owner milking the system to keep the team in an artificially supported market.

I say stop the bleeding and let Kansas City take them. They will have a nice 5 - 10 year run there before they too fall out of fashion. In the interim there will be other teams that fail and Ballsack can try and weasle his way in another way.

460Balsillie and Bettman Go To War - Page 31 Empty Re: Balsillie and Bettman Go To War Fri Aug 07, 2009 10:02 am

Guest


Guest
wprager wrote:"Silent" and "Balsillie" don't seem to belong together.
:^^^:

wprager wrote:Has the judge ruled yet that declaring bankruptcy is the only things that can be done? Because if the NHL says they will run the club there's not much that the auction will achieve. Or am I missing something? If there is an auction there is no way Balsillie can lose -- the main concern is getting the creditors taken care of, and his bid is infinitely superior in that regard.
I just did some reading for myself for once and I gathered that Judge Baum has decided that the NHL can not run the team as Coyotes owner Moyes would not get the assets he needs to pay of his debts and would leave the creditors without recourse.

wprager wrote:However if he wins the bid and gets the franchise, he still cannot just up and leave. There would be legal ramifications with the lease with the city, plus the BoG has to approve a franchise move, right?
Just because Balsillie wins the bid does not mean anything actually, as the other owners of the NHL would have to approve Balsillie as a owner which they have already voted down once at a vote of 0-26-3. If he passes the vote this time though, then I think the BOG can decide if he is allowed to move the team or not.

Phew Please do not quote me as I am the one that asked the original questions because I was unsure myself. But I did read some articles just not. My reading comprehension skills are second to 100000000000 others though.

http://www.fromtherink.com/2009/8/5/977988/the-balsillie-vote-tally-0-26-3
http://www.azcentral.com/sports/coyotes/articles/2009/08/05/20090805coyotes0805-ON.html
http://www.theglobeandmail.com/sports/hockey/balsillie-rejected-by-nhl/article1235383/



Last edited by FireOnIce on Fri Aug 07, 2009 10:11 am; edited 1 time in total

461Balsillie and Bettman Go To War - Page 31 Empty Re: Balsillie and Bettman Go To War Fri Aug 07, 2009 10:06 am

Guest


Guest
MurderOnIce wrote:There are a few things to consider here. The auction process is for the asset itself. Anyone can bid on that asset and the creditors divide the money as in so many cents on the dollar.

It seems that Balsilie will make a bid based on the asset with a condition that he gets to move the team. From there it is legal beagle time. I am sure that is when the real fight begins in earnest. I imagine that Balsilie will win the bidding then enter the negotiation/law suit stage with the league. The judge will impose a deadline for the conditions to be met. The league will push as hard against the deadline as possible so that it falls to the next bidder. In the end the losers here are the constituents of Glendale who are going to have an albatross in their city for a long time, either that or an increased tax bill with some shister owner milking the system to keep the team in an artificially supported market.

I say stop the bleeding and let Kansas City take them. They will have a nice 5 - 10 year run there before they too fall out of fashion. In the interim there will be other teams that fail and Ballsack can try and weasle his way in another way.

Hey Murder, I posted this in the who blinks fist thread because I saw you posted there earlier. I think I sent you a PM too.

Anyways, this is a paste of my post to you:
MurderOnIce, I just noticed your post. I was looking for you as someone mentioned that my name is similar to yours.

Do you mind or do you want me to change my name to something else? I use this name for every hockey pool I have ever joined. But, I will change it out of seniority and respect. Let me know what your wishes are.

462Balsillie and Bettman Go To War - Page 31 Empty Re: Balsillie and Bettman Go To War Fri Aug 07, 2009 10:32 am

Guest


Guest
FireOnIce wrote:
MurderOnIce wrote:There are a few things to consider here. The auction process is for the asset itself. Anyone can bid on that asset and the creditors divide the money as in so many cents on the dollar.

It seems that Balsilie will make a bid based on the asset with a condition that he gets to move the team. From there it is legal beagle time. I am sure that is when the real fight begins in earnest. I imagine that Balsilie will win the bidding then enter the negotiation/law suit stage with the league. The judge will impose a deadline for the conditions to be met. The league will push as hard against the deadline as possible so that it falls to the next bidder. In the end the losers here are the constituents of Glendale who are going to have an albatross in their city for a long time, either that or an increased tax bill with some shister owner milking the system to keep the team in an artificially supported market.

I say stop the bleeding and let Kansas City take them. They will have a nice 5 - 10 year run there before they too fall out of fashion. In the interim there will be other teams that fail and Ballsack can try and weasle his way in another way.

Hey Murder, I posted this in the who blinks fist thread because I saw you posted there earlier. I think I sent you a PM too.

Anyways, this is a paste of my post to you:
MurderOnIce, I just noticed your post. I was looking for you as someone mentioned that my name is similar to yours.

Do you mind or do you want me to change my name to something else? I use this name for every hockey pool I have ever joined. But, I will change it out of seniority and respect. Let me know what your wishes are.

No man you do what you want with your name. None of my business.

If it was MurderOnIceSucks... I would maybe have a problem.

463Balsillie and Bettman Go To War - Page 31 Empty Re: Balsillie and Bettman Go To War Fri Aug 07, 2009 10:38 am

Guest


Guest
MurderOnIce wrote:
FireOnIce wrote:
MurderOnIce wrote:There are a few things to consider here. The auction process is for the asset itself. Anyone can bid on that asset and the creditors divide the money as in so many cents on the dollar.

It seems that Balsilie will make a bid based on the asset with a condition that he gets to move the team. From there it is legal beagle time. I am sure that is when the real fight begins in earnest. I imagine that Balsilie will win the bidding then enter the negotiation/law suit stage with the league. The judge will impose a deadline for the conditions to be met. The league will push as hard against the deadline as possible so that it falls to the next bidder. In the end the losers here are the constituents of Glendale who are going to have an albatross in their city for a long time, either that or an increased tax bill with some shister owner milking the system to keep the team in an artificially supported market.

I say stop the bleeding and let Kansas City take them. They will have a nice 5 - 10 year run there before they too fall out of fashion. In the interim there will be other teams that fail and Ballsack can try and weasle his way in another way.

Hey Murder, I posted this in the who blinks fist thread because I saw you posted there earlier. I think I sent you a PM too.

Anyways, this is a paste of my post to you:
MurderOnIce, I just noticed your post. I was looking for you as someone mentioned that my name is similar to yours.

Do you mind or do you want me to change my name to something else? I use this name for every hockey pool I have ever joined. But, I will change it out of seniority and respect. Let me know what your wishes are.

No man you do what you want with your name. None of my business.

If it was MurderOnIceSucks... I would maybe have a problem.

:^^^^: Ok. I just didn't want to step on your toes and wanted to be sure.

464Balsillie and Bettman Go To War - Page 31 Empty Re: Balsillie and Bettman Go To War Fri Aug 07, 2009 12:32 pm

SeawaySensFan

SeawaySensFan
Franchise Player
Franchise Player
I'm having a hell of a time figuring out who the hell are members of the NHL "Executive Committee". Anyone?

465Balsillie and Bettman Go To War - Page 31 Empty Re: Balsillie and Bettman Go To War Fri Aug 07, 2009 12:41 pm

Guest


Guest
SeawaySensFan wrote:I'm having a hell of a time figuring out who the hell are members of the NHL "Executive Committee". Anyone?

I have this in "my favorites", gimme a sec.

467Balsillie and Bettman Go To War - Page 31 Empty Re: Balsillie and Bettman Go To War Fri Aug 07, 2009 12:47 pm

SeawaySensFan

SeawaySensFan
Franchise Player
Franchise Player
I really appreciate the effort. I'm looking for the NHL Executive Committee, not the NHLPA.

468Balsillie and Bettman Go To War - Page 31 Empty Re: Balsillie and Bettman Go To War Fri Aug 07, 2009 12:54 pm

Guest


Guest
Yeah, I know but that was the first favorite I found. I really need to clean up my computer. I can't find the page I'm looking for and Google turned up nothing.

Sorry, but I FAILED Thumbs Down

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