mouser
Business of Hockey
Quote is from about 2009, during the BK proceedings in Phoenix. He was on the witness stand. Clearly, it was an accurate evaluation of what the league thought of the market AT THAT TIME.
However, again, if most of the money would go to the owner, rather than being shared with the other owners, is that what the owners want? Note that Vegas has been a huge boom in terms of US-wide interest and merchandising. Exactly perfect for all of the owners. Likely, Hamilton would never be that.
I’m going to disagree this was an accurate evaluation by the NHL.
You have to understand the context of the bankruptcy proceedings in 2009. Balsillie‘s position with the bankruptcy court was he shouldn’t have to pay any relocation fees to the NHL. The NHL was highly incentivized in the bankruptcy proceedings to “pump up” the value of the Hamilton market to increase any potential relocation fee.
In the event the bankruptcy judge Redfield T. Baum ruled in favor of Balsillie to gain ownership of the Coyotes, he could also rule the NHL was owed a market relocation fee from Balsillie for Hamilton in the hundreds of millions.