It was reported earlier that Jerry Moyes, owner of the Phoenix Coyotes, was removed as the authority figure representing the team and unable to continue to operate in his normal capacity, having instead the NHL act on his behalf in response to his surprise filling for Chapter 11 bankruptcy, and the possible purchase of the franchise by Jim Balsillie.
News has developed concerning the situation, showing that Ed Beasley, city manager of Glendale — where the Jobing.com Arena is located — would be considering new offers to purchase the team that will keep the franchise in its current home, Arizona. “I will say we are very confident that an offer will be made,” Beasley said, although his lawyer, Thomas Salerno, followed up by saying, “Our job is to maximize the value of the asset. We will sell this team to the highest and best bid.”
Does this mean that if Balsillie holds his place as the highest bidder, he will be able to purchase the franchise, despite NHL commissioner Gary Bettman’s wishes that the team remain in Phoenix? We will keep you updated on this story as more unfolds.
For an in-depth look at the entire process, visit the story on Sportsnet.ca.
Category: NHL
Update on Balsillie’s offer to purchase Coyotes
It was reported earlier that Jerry Moyes, owner of the Phoenix Coyotes, was removed as the authority figure representing the team and unable to continue to operate in his normal capacity, having instead the NHL act on his behalf in response to his surprise filling for Chapter 11 bankruptcy, and the possible purchase of the franchise by Jim Balsillie.
News has developed concerning the situation, showing that Ed Beasley, city manager of Glendale — where the Jobing.com Arena is located — would be considering new offers to purchase the team that will keep the franchise in its current home, Arizona. “I will say we are very confident that an offer will be made,” Beasley said, although his lawyer, Thomas Salerno, followed up by saying, “Our job is to maximize the value of the asset. We will sell this team to the highest and best bid.”
Does this mean that if Balsillie holds his place as the highest bidder, he will be able to purchase the franchise, despite NHL commissioner Gary Bettman’s wishes that the team remain in Phoenix? We will keep you updated on this story as more unfolds.
For an in-depth look at the entire process, visit the story on Sportsnet.ca.
A seventh Canadian NHL franchise?
Jim Balsillie, co-CEO of Research In Motion, producers of the ubiquitous Blackberry, likes to think there will be, and he is determined to make it happen.
Having made attempts in the past to purchase the Pittsburgh Penguins and the Nashville Predators with the intention of moving them north of the border — and being foiled both times by NHL commissioner Gary Bettman — Balsillie is making yet another attempt to purchase an ailing NHL franchise, this time with the clear stipulation that the team will be relocated to the “healthy Southern Ontario hockey market.”
While it hasn’t been confirmed, it is believed that the city of choice is Hamilton, ON, based on Balsillie’s intention of moving Pittsburgh and Nashville there in years prior.
While the $212.5 million offer to purchase the Phoenix team seems favored by it’s current owner, who had filed for Chapter 11 bankruptcy right before being removed from an authority position by the NHL, and coach Wayne Gretzky, who has been offered 10-15% ownership of the franchise, commissioner Bettman is believed to once again step in and stop the purchase and subsequent move, stating, “We think when a franchise is in trouble, you try and fix the problems…. We don’t run out on cities.”
All of this news comes after the Phoenix Coyotes failed to reach the playoffs for the sixth season in a row.
Islanders win big, overall in 2009 NHL Entry Draft
The first 14 teams have been determined for the 2009 NHL Entry Draft based on their lackluster performance in the regular season, as well as a lottery that favors the bottom ranked teams. The New York Islanders came out on top of the lottery, having placed last in the league at the end of the 2008-09 regular season with a poor showing of 61 points. Teams are given greater statistical chances of winning the lottery determined by their position in the standings at the end of the season; for example, the last-placed Isles’ chance of winning first pick was 25%, whereas second to last-placed Tampa Bay had an 18.8% chance of winning, and so on for the remaining teams.
Because the New York Islanders came out on top, the positioing of the other teams remained the same as their standings in the league, resulting in the following order for the first 14 picks of the first round of the draft: 1. New York Islanders, 2. Tampa Bay Lightning, 3. Colorado Avalanche, 4. Atlanta Thrashers, 5. Los Angeles Kings, 6. Phoenix Coyotes, 7. Toronto Maple Leafs, 8. Dallas Stars, 9. Ottawa Senators, 10. Edmonton Oilers, 11. Nashville Predators, 12. Minnesota Wild, 13. Buffalo Sabres, 14. Florida Panthers.
However, the real news surrounding this draft lottery seems to be which teams are going to land the top two prospects, John Tavares and Victor Hedman, and which of the two is considered more valuable: Tavares the high-scoring forward, or Hedman, the highly-skilled defenseman. The pressure is on the Isles to claim the best possible player, whom many analysts are saying is Tavares, having topped Central Scouting’s final rankings. As for the other thirteen teams involved in the draft so far, they would love to be in the predicament that the Islanders have found themselves in; having to choose between the top two prospects entering the NHL in an attempt to rebuild the team for a better showing in the 2009-10 season.
To find out more about John Tavares and Victor Hedman, and to follow the NHL Entry Draft lottery, check out the Draft feature on NHL.com.