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.
Please do not quote me as I am the one that asked the original questions because I was unsure myself.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.