So how goes the hockey team?

[markbarbera]

As reported on National Post website:

An Arizona bankruptcy court judge has followed through on a threat made in open court, rejecting both the National Hockey League and Canadian billionaire Jim Balsillie in their bids for the Phoenix Coyotes, leaving the team's future uncertain.

Judge Redfield T. Baum rendered his decision on Wednesday, acknowledging the battle had been "hotly and vigorously contested by all of the involved parties," but deciding he "can not approve either bid."

"PSE's bid is denied, with prejudice because the interests of the NHL cannot be adequately protected as required ... if the sale to PSE were approved," Baum wrote in his 31-page decision. "The NHL's bid is denied, without prejudice. As stated above, the NHL can probably cure the defect in its bid if it elects to make the required amendment(s)."

The decision was a definitive blow for Balsillie.

"This conclusion effectively is the end for the efforts of PSE ... to force a sale and relocation of the hockey team," Baum wrote, referring to Balsillie's company.

"In short, with prejudice means the judge isn't leaving the issue open – that is, he won't be reconsidering that bid," said Geoffrey Rapp, associate professor at The University of Toledo College of Law. "Without prejudice means he's not accepting the NHL's bid at this time, but that his decision on that point will not lead him to "pre-judge" a modified bid by the league."

Neither the NHL nor Balsillie issued an immediate public response.

"PSE clearly lost," said Eric Schaffer, a bankruptcy specialist and partner at the international law firm Reed Smith. "With prejudice means they're done."

Baum left the door open for the NHL, which had tabled a bid of US$140-million. He had trouble with the league's proposal because it minimized claims made by Coyotes owner Jerry Moyes and outgoing coach Wayne Gretzky.

Balsillie initially offered US$212.5-million to buy the team in May, after Moyes had filed it for bankruptcy. The offer was conditional on relocating the team to Hamilton, where the city had extended an arena lease option at Copps Coliseum.

"The NHL bid is denied, without prejudice," Baum wrote. "The denial of the NHL's bid could easily be cured by the NHL. In hockey parlance, the court is passing the puck to the NHL, who can decide to take another shot at the sale net, or it can pass off the puck."

More to come.

This isn't really a big surprise. Balsillie had the wrong approach and some pretty poor legal advise about using (manipulating?) US bankruptcy law as a backdoor to getting a franchise. Baum had no precedent for this kind of sale and made it quite clear from the get-go that he wasn't looking to set one himself.

What now? I guess NHL will operate the team until a buyer can be found. Balsille has (most likely) permanently lost his dream of an NHL franchise, and Hamilton needs to find another white knight, one that can play the NHL game. I predict Phoenix will be playing in Las Vegas for the 2010-11 season.

Bottom line: Hamilton will never get a relocation team. Only a franchise expansion will bring the NHL here. Lord knows when that will be.

[markk]

...now what?

^ that seems to be the main question on all msg boards.

the national post has more details which notes that the door remains open for the NHL if they make amendments toward paying certain creditors (Moyes and Gretzky).

I wonder if this is game over JB, or if he has anymore moves?

[Blurr]

Originally Posted by Distill3d

...now what?

This doesn't feel right.

It doesn't feel right that an area with such a love for the game has been denied for such a long time.

Even at a time of crisis, where there are many franchises losing money in the south, a team in Hamilton still failed.

Enough is enough.

We are furious with the Toronto Maple Leafs and the NHL. You will not get our support anymore. You will not get our money, nor our attention.

We are upset with our players. Starting from Gretzky to the other 50% of Canadian players, we supported you all those years, and you have failed to give us even a modest reward in return. You have not shown any leadership or a voice and instead, have allowed Hockey to have a continued tarnished image.

To Jim. Thank You. Your efforts have shown us the truth that many of us have been speculating for years. We do have comfort in that. The NHL is a poorly run organization by bad managers who have lied and misled its most loyal fans. Jim took bold steps to get something for us, the fans. Your work will not go to waste. You have beaten the 🞵🞵🞵🞵 out of the NHL. He now has a black eye, a 🞵🞵🞵🞵🞵🞵 nose and missing teeth. Just as you were about to finish him off, the ref stepped in. We will remember this fight and continue it on.

To the NHL - You are surely on the way down that I am happy to believe will hurt your bottom line and more importantly your status in the view of the public. The views of your BOD (ie melnyk) that Jim didn't rub enough elbows or kiss enough hands shows that you do not care for the fans.

May Phoenix lose 100 million this year.

[SteelTown]

Balsillie will not make an appeal.

It seems like Balsillie will start the healing process.

[SteelTown]

Balsillie issues statement

September 30, 2009
The Canadian Press

TORONTO (September 30, 2009) – The following statement regarding the court ruling in the case of the NHL’s Phoenix Coyotes bankruptcy proceeding was issued tonight by Jim Balsillie in response to media inquiries:

“From the beginning, my attempt to relocate the Coyotes to Hamilton has been about Canadian hockey fans and Canadian hockey. It was a chance to realize a dream. All I wanted was a fair chance to bring a seventh NHL team to Canada, to serve the best unserved hockey fans in the world. I believe I got that chance. I respect the court’s decision, and I will not be putting forward an appeal.”

“Nobody can deny that we are now a big step closer to having a seventh NHL team in Canada. It doesn’t matter who owns that team. When that day comes, I will be the first in line to buy a ticket to the home opener.”

“I want to take this opportunity to thank my family for all their love and support. I also want to thank the more than 200,000 fans who supported the bid online and the countless others who contacted me personally to show their support. This bid always was about the game we all love.”

[FairHamilton]

Originally Posted by Blurr

May Phoenix lose 100 million this year.

And Florida, Dallas, Columbus, or one (or more) of the other weak teams fall and teach the NHL a hard lesson.

The NHL lives and dies on it's gate and it will be a tough, tough, tough year for many of the weaker teams this coming year.

[SteelTown]

Many Hamiltonians refuse to give up NHL dream

September 30, 2009
Allison Jones
The Canadian Press
http://www.thespec.com/News/BreakingNews/article/644959

People in this never-say-die city were refusing to give up the dream of an NHL team today, despite the notable setback of BlackBerry boss Jim Balsillie’s bid being rejected in U.S. bankruptcy court.

Hockey fans in the southwestern Ontario city had placed high hopes in the Research In Motion Ltd. co-founder billionaire’s attempts to bring the Phoenix Coyotes to this community.

Phoenix bankruptcy Judge Redfield T. Baum rejected Balsillie’s US$242.5 million offer “with prejudice.” Baum also rejected the NHL’s bid, but was far warmer to the league proposal, suggesting it could be amended to make it palatable to the court.

But Hamilton residents have seen several other setbacks in the ongoing Coyotes saga, and many don’t believe the fight is over for a big league team.

While Mayor Fred Eisenberger called the court decision “very disappointing,” he did see a bright side.

“The good news in it for Hamilton is that all have agreed that hockey in southern Ontario is viable and that it would be a successful market for them to start working with,” Eisenberger said. “We’ll continue to work to see if we can get an NHL franchise here for Hamilton.”

Most Hamilton residents have taken a “pragmatic view” of Balsillie’s battle to bring the team to their town, he added.

“They understand it wasn’t a slam-dunk by any means for Mr. Balsillie.”

The Coyotes are a hot topic at bars in the city such as Frisco’s Eatery and Sports Bar, where waitress Dianne Miller said the latest decision was on everyone’s lips.

“A lot of people still have hope, absolutely,” she said.

“Every time you watch the news there’s something else that’s positive, in Jim Balsillie’s favour. So it’s always up and down but people are still very optimistic.”

Ruth Liebersbach, the president of the Hamilton Chamber of Commerce, said she thinks there is still a chance the case will go to mediation.

“If it does there will be an opportunity for Mr. Balsillie to again work with the NHL,” she said.

But if that’s not the case Liebersbach lamented the loss of such a lucrative opportunity for business owners in the city, particularly in the area of Copps Coliseum.

“It certainly would have meant a lot of business for the downtown core of Hamilton,” she said.
“It would certainly have brought a lot of awareness to the city and with awareness creates opportunities.”

However, some residents of Hamilton have had their hopes raised then crushed one too many times and are all but throwing in the towel.

“(We have) no more hope,” said Roseanne Farr, a waitress at Toby’s Good Eats restaurant, close to Copps Coliseum. “There’s no turning back, I think, on this one.”

Farr said businesses in the area wish the Coyotes could have come to Hamilton, because the area around the stadium could have used a revitalization that an NHL team surely would have meant.

“That would have helped us out, for all the businesses around here, to have that brought in.”

[realcity]

I can't even comment

[Berklon]

Why do I get the feeling the LRT will fall through as well?

[matt602]

Originally Posted by Berklon

Why do I get the feeling the LRT will fall through as well?

Now you're just getting that typical Hamiltonian cynicism. I have a lot more faith in LRT coming to Hamilton than I ever did of us getting an NHL team.

[Berklon]

Originally Posted by matt602

Now you're just getting that typical Hamiltonian cynicism. I have a lot more faith in LRT coming to Hamilton than I ever did of us getting an NHL team.

Admittedly, I'm a pessimist.

I always said the two major things that'll be good for this city with regards to image and excitement (as well as economically) would be an NHL team and LRT. As much as LRT should be a slam dunk for the city, I have this uneasy feeling that something will go wrong. Afterall, the cynicism many Hamiltonians feel is partly justified by past experiences. It's almost like how no matter how many changes MLSE makes, there's a feeling amongst many fans (and non-fans) that the outcome will be the same.

I REALLY hope I'm wrong.

In any case, I hope Balsillie can do whatever it takes to get onboard with the NHL in getting a team here - be it relocation or expansion. He's made great strides in awakening Canadians and all hockey fans to the under-supplied hockey market of Southern Ontario. The NHL admitted in court that a team in Hamilton would be the 5th highest revenue generator in the league. I honestly smell something brewing for the future... and this is coming from a pessimist.

[BCTed]

Big time bummer, but not unexpected.

Jim's statement almost sounds like he is waving a permanent white flag. I certainly hope that that is not the case. I still believe that he represents Hamilton's only real hope of getting an NHL team any time soon.

[crhayes]

Originally Posted by BCTed

Big time bummer, but not unexpected.

Jim's statement almost sounds like he is waving a permanent white flag. I certainly hope that that is not the case. I still believe that he represents Hamilton's only real hope of getting an NHL team any time soon.

It does sound like that, but he still has money to burn. I think he is just trying to stay neutral; definitely the best move to make politically.

[SteelTown]

First he needs to get rid of Richard Rodier. Secondly start inviting NHL board members to his golf resorts and build a relationship. Within a year Phoenix will either find a new local owner or be up for relocation.

I doubt we'll see an expansion team until 2012.

[SteelTown]

I think we should have a Jim Balsillie appreciation day. Invite Jim Balsillie and thank him for all his hard work, even if he wasn’t successful. Give him the key to the city, if we have such a thing.

[oldcoote]

An expansion franchise is the only thing that will suffice the league. They wanna get paid if there is a franchise put in Hamilton.
I predict in the next few years that the NHL will come back to Balsillie, and say "...you still want a team in Hamilton Jim? $400 mil."

Money talks. 🞵🞵🞵🞵🞵🞵🞵🞵 walks.

The really stupid thing is that Phoenix will move within 2 years. Bank on it.

[rrskylar]

Originally Posted by SteelTown

I think we should have a Jim Balsillie appreciation day. Invite Jim Balsillie and thank him for all his hard work, even if he wasn’t successful. Give him the key to the city, if we have such a thing.

Giving Balsillie a key to the city for not accomplishing a set out goal sounds really Canadian.

[highwater]

Originally Posted by rrskylar

Giving Balsillie a key to the city for not accomplishing a set out goal sounds really Canadian.

"Showing our gratitude to someone who went to bat for this city, and will very likely do so again sounds really Hamiltonian."

Fixed it for you.

[SteelTown]

If you get a chance check out the latest MacLeans magazine. A lot of revealing information about the history of Balsillie's NHL quest.

[adam]

The downtown is slowly coming along. Since I moved here a few years ago I've seen nothing but slow and steady improvements. It takes a long time to build momentum from nothing. The fact that a smart businessman like Balsillie was so interested in Hamilton speaks volumes. Lets not let this turn us into pessimists and "squelchers"