NHL, Balsille Will Wait Again
After a day-long session in bankruptcy court, the NHL and Jim Balsille will have to wait it out at least another week.
Judge Redfield T. Baum made no decisions today, citing the need for more information and still wanting the parties involved to talk things over. Neither side seems ready to do that.
Baum did manage to get Balsillie’s camp to concede waiting a season before relocating provided that the NHL split any further losses the Coyotes incur.
Both sides have made critical errors, which further complicates this case. The NHL all but admitted this team will likely be moved, which raises the question of why didn’t they negotiate with Balsillie early on to get one or two more seasons in Phoenix? And Balsillie should have been more amiable to possibly staying in Phoenix, instead of waiting until now to finally agree to such an arrangement.
Given that Balsillie was previously approved as anowner and now is not makes the NHL’s rejection seem sketchy and personal. However, the judge may not be willing to set a dangerous precident in allowing a potential owner to bypass a pro league’s board of governors.
I see the NHL possibly upping their bid, allowing more creditors to get something out of this. I dont think they’ll have to match Balsillie, but they may have to kick in another $30-40 million.
The entire day was a total waste of time and money.
I agree. It seems that the judge is using the crutch of ‘more information’ to fend off having to make a decision. I think he’s been hoping this whole time that logic would rule the day and both sides could come to some sort of agreement, but it’s clear that neither will budge.