So how goes the hockey team? - Page 56

SteelTown · #**1101** Posted **Sep 11, 2009, 3:35 PM**

Another round of trial has begun.

SteelTown · #**1102** Posted **Sep 11, 2009, 4:20 PM**

If Balsillie wins this case, it'll all be thanks to this lawyer...

http://www.law.columbia.edu/fac/Jeffrey_Kessler

adam · #**1103** Posted **Sep 11, 2009, 4:57 PM**

-Gretzky is offering to take a $6 million pay cut if the team stays in Phoenix.

If this is true, he's crossed off my list of Canadian heroes/icons. I wonder what his father Walter thinks about his positioning?

Berklon · #**1104** Posted **Sep 11, 2009, 5:03 PM**

Being a pessimist, I don't see JB winning.

However, I hope this opens a door for expansion or some other relocation to Hamilton. In all this, it still can be seen as a victory for Hamilton as JB may have cleared a path for a team in the near future. I'm willing to wait a few years for a team if I have to (although the NHL won't get my support until it happens).

Hard to believe I have visions of an NHL team in this city since a few years before Copps was built. I can't wait for the time where I can proudly wear a sweet looking NHL jersey representing Hamilton.

SteelTown · #**1105** Posted **Sep 11, 2009, 6:35 PM**

Balsillie is willing to pay $35 million for relocation fee, seems like we have an agreement on the fee.

SteelTown · #**1106** Posted **Sep 11, 2009, 6:36 PM**

And finally the moment we waited for....Bettman is up on the stand.

SteelTown · #**1107** Posted **Sep 11, 2009, 7:34 PM**

Court in recess until 5pm. Balsillie is going to update his bid, likely extend the deadline. Auction likely to start after 5pm.

Berklon · #**1108** Posted **Sep 11, 2009, 8:37 PM**

When Bettman was on the stand he mentioned that in the past couple years he had discussions with someone (more than one?) regarding an expansion team in Hamilton. If true (HUGE "if"), I wonder who it/they were.

SteelTown · #**1109** Posted **Sep 11, 2009, 9:22 PM**

PSE sweetened the deal, $50 million to Glendale, Baum wants Glendale to vote on that deal by Wednesday. No deadline anymore from PSE.

SteelTown · #**1110** Posted **Sep 11, 2009, 9:30 PM**

$50 million unconditional for Glendale and rent for as long as Coyotes stays.

SteelTown · #**1111** Posted **Sep 11, 2009, 9:33 PM**

For the NHL it looks like no change, still $140 million but estate would get $18 million, meaning Moyes.

holymoly · #**1112** Posted **Sep 11, 2009, 9:35 PM**

Is PSE still planning to pay for 1/2 the losses of the coming season (if I've remembered that right)?

SteelTown · #**1113** Posted **Sep 11, 2009, 9:45 PM**

PSE requested a 10 minute recess after hearing NHL's bid, Judge approved. Looks like PSE will sweeten the deal more.

SteelTown · #**1114** Posted **Sep 11, 2009, 9:55 PM**

Looks like Wayne Gretzky is a goner as a coach.

Distill3d · #**1115** Posted **Sep 11, 2009, 9:55 PM**

Quote:

Originally Posted by holymoly

Is PSE still planning to pay for 1/2 the losses of the coming season (if I've remembered that right)?

from the sounds of it, if they win, they may just swallow the losses themselves.

SteelTown · #**1116** Posted **Sep 11, 2009, 10:00 PM**

If there's no relocation fee. From my understanding PSE would be willing to keep the team in Glendale for a year and take the loss. The loss could count as a relocation fee.

SteelTown · #**1117** Posted **Sep 11, 2009, 10:09 PM**

(From TSN) Here's is a quick breakdown of the adjustments on the league's deal as they relate to Moyes: He currently owes $30 million to the league. The league will forgive $15 million of that amount. This is seperate from the $140 million offer to buy the team. From that amount, there will be $18 million in residual dollars that go back to the estate. Moyes is able to tap into that up to 90 percent if there is no future relocation. If the team moves there will be city claims to eat into more of that. So in theory, the value of the league offer could be now valued at $155M while Balsillie is $192M.

holymoly · #**1118** Posted **Sep 11, 2009, 10:10 PM**

Makes sense. But I thought JB's offer to pay losses was contingent on the NHL not pursuing appeals. Wonder if that's gone.... It would be huge to get that agreement.

holymoly · #**1119** Posted **Sep 11, 2009, 10:18 PM**

From sportsnet:

Quote:

cmacsports: Debtors - appreciate nhl adding more money to estate

Pse bid better - one debter wants approved by court

Yes please.

SteelTown · #**1120** Posted **Sep 11, 2009, 10:18 PM**

Balsillie will pick up $11 million in debt. Now $252 million from PSE