It would appear the Bettman way of running sports leagues is rubbing off on Major League Baseball. Keeping the club exclusive seems to be more important than keeping the creditors happy.
Could this be the reason Ice Edge is having trouble? Is Reinsdorf the chosen one, and Ice Edge not?
Or, could it be how Ice Edge views the market in hockey in Glendale?
Thanks to the Globe & Mail for researching this video (go to the 3:26 mark).
Keith McCullough in July 2009, discussing the Phoenix Coyotes as a “distressed asset”, and like a good hedge man, McCullough figured it was a good time to buy the “distressed asset”, and with tender loving care and ” good marketing” bringing it back to life, with Wayne Gretzky, yada, yada, yada.
That was July 2009.
When asked why five games in Saskatoon, the response was the title.
If folks don’t want to go to a hockey game in Phoenix, how are you supposed to nurture the market exactly? Weird. If I didn’t know better I’d have to say the original thought of real estate as a distressed asset held more merit. You know, that other video we played a long time ago with McCullough talking about the real estate market ready to make a turnaround.
I really wonder what the thinking is now though.
The Globe’s article is all about Gary Bettman really giving Jerry Moyes the gears, and squeezing him for all the money he can. In Bettman’s eye’s, the idea of the team to be in bankruptcy at all was just, yes I will say it again, silly.
And remember Dallas and good ‘ol Tom Hicks? Remember when Bettman gave him extensions and protections as a league when he defaulted on payments, while the MLB was ready to pull the plug?
Well, it would seem this time it is the creditors of the Texas Rangers may be next to challenge the status quo and challenge a sports league to the rights to sell to the highest bidder. Check this out!
As we reported late last month, the sale of the Rangers from owner Tom Hicks to a group led by Pepper’s Chuck Greenberg and pitching legend Nolan Ryan for somewhere just north of $500 million is in limbo, because creditors holding about $500 million in Hicks debt–on which Hicks has defaulted–don’t support the sale. Why not? We’ve talked to sources on all sides, and the consensus seems to be that the Hicks lenders believe the Rangers could have fetched more value from another bidder–perhaps one of the two finalists the Greenberg/Ryan group beat out for the Rangers.
Imagine that – a buddy of Bettman who at least remains consistent. MLB does not want to sell to the highest bidder, and it would appear it is no skin off Hick’s nose. Perhaps Hicks wouldn’t stand to come out in the same net position as Moyes would have ($100 million plus recouped). Perhaps Hicks owes way more than he would get for the team anyhow, so the sense of wanting to sell to the highest bidder is not as big an issue as it was for Moyes. Obviously, the creditors of Hicks want to get more than pennies on the dollar.
It really is pathetic though, when creditors have to fight with a league. Why is it so important to control who joins the club?
At this rate, like General Motors, we are going to end up with nobody willing to own a team, because at the end of the day, you appear to have the privilege of renting it. The Garyworld turkey no matter what sport or league.
At least this would be in keeping with the Global Government agenda – One world government, one world bank, and state run sports to keep the surfs happy. It would explain the exclusivity of why they would want to control who owns what, now wouldn’t it?
Let’s hope Mr. Hicks doesn’t find himself in the same shoes as Mr. Moyes. I hear Gary Betttman is a pit bull when it comes time to collect. Don’t get him on your bad side.
Oh so much fun in Garyworld!
As far as ownership of the Coyotes go, would the real Global Government sweeties please stand up!
Are we witnessing a show? Or, are we witnessing how a City can be mistreated along with everyone else who stands to lose in the new version of professional, we don’t care who we screw sports.
Oh, and by the way, kinda hard to try to sell the fans of Glendale on the “we are here for the long haul” idea when you don’t think they really want to watch hockeyanyways. Keith McCullough had it half right – Saskatoon sure is where the money is. But trying to convince those not interested in watching hockey – I don’t think so.
Where in the marketing guru handbook for hockey is it written to force feed hockey where there is little interest? Wayne Gretzky, market analysis, and anything else you can conjure up will not save the Coyotes in Glendale.