There are more questions than answers in the tale of the Yotes. Here is a brief recap, without a lot of insight…….sorry I tried analyzing this case, but it turns out what makes sense never really happens anyway!
The NHL is taking their time getting a bid together for the Coyotes, eh?
What’s the hold up?
Are they waiting until there is no money left in the pot for the unsecured creditors?
Are they putting together a bid so bad that Chapter 7 liquidation may be the only answer?
What is truly up in the state of the NHL’s ammended bid?
Do they really have “potential owners” that have been speaking to Gary Bettman?
Is the lease breakable after one year, or is the NHL and the new potential owner responsible for the duration of the lease?
Why did Jim Balsillie back off so fast after the court’s ruling, that he seems to have a cat swallowing the canary posture?
Where is Doug MacLean? Has he left the Balsillie organization? If not, why not?
The proof is always in the pudding.
A handshake outside of a washroom in a Glendale courtroom, not once, but twice between Bettman and Balsillie may tell a tale. We have mentioned these relatively, seemingly unimportant human jestures, but in the setting where they took place, the significance factor rises considerably.
Everyone is looking. Lots are rooting around to see what is truly up with the state of the NHL’s offer to buy the failing franchise.
Well, what if they intentionally botch this thing up? What happens?
The team gets liquidated? Probably.
Nobody gets paid? Likely.
The NHL would be free to then expand? I would say they could do what they want.
So, if they were to expand to Hamilton, Ontario, they would not have to pay for the team?
What about the lease?
Would Judge Baum tap the NHL for a lease break penalty?
After all, it was Glendale all along that has created the unreasonable issues. The NHL has wanted a one year out clause for a reason. Glendale is unable to offer concessions to a team that is failing. Even the NHL knows that scenario does not work.
The NHL may be taking it’s time to make that next offer, and they may only do it if the Ice Edge group, or someone else can make a solid offer to buy the team, and can get out of Glendale what they need. Otherwise, what would be the point of taking on the ‘turkey’?
Why would the NHL want to be saddled with no end to the losses? Why would they take on a lease that would financially cripple them?
Has Judge Baum left the door open to the NHL and the Balisillie team, as a plan moving forward? Pass the puck northbound, if you can’t make a short, sharp pass locally may just be in play.
Seems to me the court is working with both sides still, whether it appears that way or not.
The NHL gets to save face by getting the necessary ruling. The judge was heading to the road of precedent but seemed to stop in his tracks. Perhaps Baum does not want to appear the hero or the goat, and doesn’t care if he gets the accolades of setting a sports precedent. After all, what does he have left to prove, after helping entire countries work their bankruptcy plans.
In the end, will the bankruptcy situation create the perfect outcome? Will it be a short or end to end pass?
Will the NHL be able to walk away from Glendale blaming the court?
Will another franchise or two fold as well, or will they simply relocate because the city strangelhold is not quite as bad as in Glendale?
There is a common theme that has run throughout this case.
Each individual party to the situation in worried more about themselves than anyone else, or reality for that matter.
The truth has always been this team in a loser money-wise.
Who wants to be responsible for the bills?
It is quickly becoming a question of what’s really up?
Has the court collaborated with the NHL and Balisillie in a master plan of attack that leaves the City of Glendale in a pickle?
Let’s all keep looking, and waiting, and wondering.
At least we aren’t paying the bills!