Balsillie/Phoenix part III

[TaketheCannoli]

Ok than his ranking in the Senate certainly does. When you're third in line in the party, you're going to have a lot of political power to pull strings. A little nudge here, a little nomination for Federal Appeals Court there, etc etc

Look, I'm a US citizen and like you I'm from Columbus. The Federal government has many more pressing issues to address than this. Do you really believe that either the US or Canadian governments are going to risk relations between the countries over a freakin hockey team????

 

[Bitterman]

I would just like for someone to propose something that doesn't include the team going to Ontario

Portland has long been on the radar for a possible team but in this situation, who in these economic times is prepared to outbid JB?

Now, if the Bankruptcy judge rules that the new owner cannot relocate who on earth is going to buy a team that swallowed a poison pill with locals that still can't move? If he rules against relocation the value of the franchise drops like a stone and the creditors get next to nothing unless the NHL picks up the tab... and I can't see the owners agreeing to that.

The only logical move is allowing the Yotes to be a movable asset... because any new owner won't buy unless they get a short-term escape clause.

 

[TaketheCannoli]

Portland has long been on the radar for a possible team but in this situation, who in these economic times is prepared to outbid JB?

Now, if the Bankruptcy judge rules that the new owner cannot relocate who on earth is going to buy a team that swallowed a poison pill with locals that still can't move? If he rules against relocation the value of the franchise drops like a stone and the creditors get next to nothing unless the NHL picks up the tab... and I can't see the owners agreeing to that.

The only logical move is allowing the Yotes to be a movable asset... because any new owner won't buy unless they get a short-term escape clause.

This isn't directed specifically at you.

Please don't get too worked up over JB's wealth. There are plenty of people with as much or more money than Balsillie.

PLEASE, stop making these ridiculous claims that Balsillie has enough money to buy the NHL. He doesn't. He doesn't have enough credit either.

Several years ago the NHL turned down a $3.5 Billion offer for the league as too low.

Additionally, there is no poison pill. Glendale has indicated they are more than willing to renegotiate the lease with bidders that are committed to Glendale.

 

[Gulvorn]

Look, I'm a US citizen and like you I'm from Columbus. The Federal government has many more pressing issues to address than this. Do you really believe that either the US or Canadian governments are going to risk relations between the countries over a freakin hockey team????

They do a lot of things behind closed doors. All they would have to do is pick up a phone and call someone. It isn't that hard. You've seen Law and Order, and that's just a District Attorney in New York. Sure it's fiction but really it's not that far off from how politics actually works and how much influence and how easy it is to get things.

 

[Bitterman]

Ok than his ranking in the Senate certainly does. When you're third in line in the party, you're going to have a lot of political power to pull strings. A little nudge here, a little nomination for Federal Appeals Court there, etc etc

Have you ever watched the Stanley Cup winners visit the White House?? Nobody knows who they are and they butcher the names so concerns over a hockey team in Washington are almost nil. All we're seeing is self-promotion for his constituents back home, not anything meaningful.

 

[Artyukhin*]

Yea I'm sure he could afford the whole league considering buying a troubled franchise would cost you over 100 million.

But yea if he bought the whole league then they could do us the favor of moving the whole league to Canada so we could create a league with only American cities and still have all the best players in the world while the NHL would become AHL caliber.

His company RIM is worth around 70 billion today .....how much is the NHL worth total?

 

[Gulvorn]

Portland has long been on the radar for a possible team but in this situation, who in these economic times is prepared to outbid JB?

Now, if the Bankruptcy judge rules that the new owner cannot relocate who on earth is going to buy a team that swallowed a poison pill with locals that still can't move? If he rules against relocation the value of the franchise drops like a stone and the creditors get next to nothing unless the NHL picks up the tab... and I can't see the owners agreeing to that.

The only logical move is allowing the Yotes to be a movable asset... because any new owner won't buy unless they get a short-term escape clause.

Just because he has a lot of money doesn't mean he gets automatic rights to buy the team. There are a lot of people with a lot of money that I'm sure would be willing to buy the team and move them to another US market. I'd be okay with the team moving if it stayed in the US but I wouldn't want to see the team move anywhere in Canada, except maybe Winnipeg but I know that wouldn't ever happen anyways.

 

[TaketheCannoli]

His company RIM is worth around 70 billion today .....how much is the NHL worth total?

Balsillie's ENTIRE net worth has been estimated at $1.6 billion.

http://hockey-blog-in-canada.blogspot.com/2009/05/curious-case-of-jim-balsillie.html

 

[Gulvorn]

Have you ever watched the Stanley Cup winners visit the White House?? Nobody knows who they are and they butcher the names so concerns over a hockey team in Washington are almost nil. All we're seeing is self-promotion for his constituents back home, not anything meaningful.

Yea, and that's what politics is all about. You don't actually have to know or do anything. You just have to do what your constituents want you to do and everyone's happy. Which is why it would be in his best interest to make sure Southern Ontario doesn't get a team. He really wouldn't want to lose upper New York which is essential to winning a Senatoral race. I mean Buffalo needs their NHL team. They have what, the Bills? I can't think of any other major team they have. And the Bills have been huge disappointments. I think a lot of people would blame him if the team suffered economic troubles (again) if a team goes to Ontario.

 

[TaketheCannoli]

They do a lot of things behind closed doors. All they would have to do is pick up a phone and call someone. It isn't that hard. You've seen Law and Order, and that's just a District Attorney in New York. Sure it's fiction but really it's not that far off from how politics actually works and how much influence and how easy it is to get things.

You must watch too much TV. It's not an issue that will register at the negotiation level.

 

[Gulvorn]

His company RIM is worth around 70 billion today .....how much is the NHL worth total?

No one on this planet has 70 billion dollars. Not even Bill Gates.

And I'm pretty sure the NHL is worth something in the tens of billions.

 

[Bitterman]

Please don't get too worked up over JB's wealth. There are plenty of people with as much or more money than Balsillie.

PLEASE, stop making these ridiculous claims that Balsillie has enough money to buy the NHL. He doesn't. He doesn't have enough credit either.

Several years ago the NHL turned down a $3.5 Billion offer for the league as too low.

At this moment in time, I'd be interested in knowing who would be willing to outbid JB for a movable franchise.

Jerry Reinsdorf was rumored to be somewhat interested at a cut-rate price and an escape clause Moyes didn't have that the NHL could only get via Bankruptcy as well.

Buying the league is a joke of course but who else really has the resources and intestinal fortitude to outbid JB?

 

[RR]

Copps is the only option for JB if he wants to move the Yotes into southern Ontario asap. Personally I think he'd only stay at Copps long enough for a new, state of the art arena to be built in Kitchener because I don't think a refurbished Copps is really the ideal situation long term. Then again, I'm not sure if JB personally bought the land or if RIM did.

Then why would Hamilton taxpayers pay $120M to upgrade Copps for just 2-3 years?

 

[Egil]

Balsillie's ENTIRE net worth has been estimated at $1.5 billion.

Pretty sure he is over $2 bil again. His net worth is highly dependent on the price of RIM of course.

 

[Artyukhin*]

Balsillie's ENTIRE net worth has been estimated at $1.5 billion.

over 3b and growing.

 

[RR]

I believe RIM owns that land everyone keeps talking about.

Plus JB is committing to 20 years at Copps (or in Hamilton) should they get a team.

That answers my "Why" question regarding the $120M investment by taxpayers in Copps. Thanks. Is that lease rock solid, or does he have an out?

 

[Gulvorn]

At this moment in time, I'd be interested in knowing who would be willing to outbid JB for a movable franchise.

Jerry Reinsdorf was rumored to be somewhat interested at a cut-rate price and an escape clause Moyes didn't have that the NHL could only get via Bankruptcy as well.

Buying the league is a joke of course but who else really has the resources and intestinal fortitude to outbid JB?

Wasn't someone talking about possibly moving the team to Chicago for not much of a lower price than JB offered?

 

[The Pouzar]

Then why would Hamilton taxpayers pay $120M to upgrade Copps for just 2-3 years?

My supposition is that he knows that he probably won't get this money and has an out from Copps to move to a new building. He is willing to plunk $50M for short term fixes.

 

[mouser]

Approaching post limit, new thread here:

http://hfboards.com/showthread.php?t=644614