Canadian business man Jim Balsillie vs. NHL for the Coyotes



Posted: Monday, July 06, 2009

by
http://www.lawyerahead.ca

A while ago Arizona decided it wanted a hockey team before it remembered it was in an arid, desert region of the United States. After they received the electric bill and no one showed up to watch their games the Coyotes decided to go bankrupt. And then billionaire hockey aficionado Jim Balsillie stepped in to buy the team and move it back up north to Canada.

Well this rubbed Arizona hockey fans the wrong way. Even though the team has lost over $300 million dollars in the 14 or so years it has been in Arizona, they really want the team to stay. The NHL wants the team to stay in Arizona as well and is asking everybody to buy the Coyotes to keep it out of Canadian hands. This fits with Arizona's repertoire of taking things like the London Bridge from other countries and putting them in a desert. What is a billionaire to do?

Recently, the judge presiding over the team's bankruptcy said the timeframe Balsillie had in mind was unrealistic. They needed more time to get things squared away and the June deadline just would not do. This led Balsillie to extend the offer to September. Balsillie wants a mediation hearing with the NHL to work out their differences. He is even considering paying a relocation fee of $100 million.

So can Jim Balsillie get his way? Oh yeah. Although Arizona and the NHL are being stubborn, the facts are obvious. In Arizona, the team loses money. Outside of their name, it makes no sense at all for the Coyotes to be in Arizona. The only reason the NHL is being a jerk about this is (I'm guessing) they want more money. And really, the only surprise is that it took this long for the team to go bankrupt.

Balsillie will get the team back into the homeland of hockey and Arizona will pout as they cash the check. Money talks and Balsillie has it. Soon enough, he and Ontario will have a new hockey team.

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Top-level comments on this article: (1 total)
» left by Laura Trahan
 2 years 217 days ago.
123 fans.
Very interesting Tamia! I agree that money talks way more than fans feelings!
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