The courts confirmed late Monday evening that Jim Balsille’s US $212.5 million dollar offer to purchase the struggling Phoenix Coyotes franchise had been rejected.
After a long and strenuous series of legal rallying, NHL commissioner Gary Bettman once again came out victorious in what can only be speculated as his personal grievance with the co-CEO of Research in Motion, billionaire Jim Balsille.
Judge Baum, the official overseeing the case, conferred that there would not be an appropriate amount of time to sort out the large web of issues involved in relocating the team to Hamilton. At least not by Balsillie’s self-imposed end-of-June deadline.
After being rejected ownership to two other clubs – the Pittsburgh Penguins in 2006 and the Nashville Predators in 2007, Balsille was out to stick it to Bettman, the league, and the Board of Governors through just about any means possible.
Instead of taking his time, using his manners, and going through an inevitable series of kissing up to his elders, Balsille instead went running to the courtroom using Chapter 11 bankruptcy laws to fuel his motives. Needless to say, this did not inspire Bettman to play nice, nor did it help Balsille’s cause of attaining the board of governors popular vote required to transfer ownership.
The Make it Seven campaign, although successful in southern Ontario, has been nothing more than a teaser for us faithful hockey fans. This is the second time Balsille has jumped the gun; after prematurely selling Predator tickets in Hamilton – hence, the previous rejection of ownership.
And yet Balsille keeps trying.
His spokesperson made it clear that the battle was not over, and that Mr. Balsille still seems to be holding onto his futile dream of joining the elite gentlemen’s club of NHL owners. Confident even still, that things will change favorably for him by the start of the 2009-2010 season.
As prosperous as another NHL team in Canada would be, there are still many behind the scenes details involving league protocol that cannot be overlooked, as willing as Balsillie may be to overlook them.
The NBA, MLB, and NFL all filed court documents stressing that the court respect the authority of the league first and foremost, as this case would set a precedent for future matters across all North American sports.
The issue of US anti-trust law is raised as well, given the fact that there are already two franchises, the Toronto Maple Leafs and the Buffalo Sabres, within close proximity to Hamilton. This would involve some sort of payment made to these teams.
A very large relocation fee would also have to be paid to the Coyotes and their creditors, which would essentially be worthless through the same bankruptcy laws.
So it looks like the debt-riddled team from the desert will be auctioned off in the near future, and preserve its roots in Glendale, Arizona. Probably not the wisest business choice, but as Bettman sees it, it’s better than a stubborn and feverish owner.
