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This is false on many different levels - starting with the coyotes are owned by the NHL
as stated in a different thread I fully feel the fate of the coyotes is 100% on the city of glendale and their level of competance
it looks like they've done everything in their power to screw up this whole ordeal .......... should be an interesting board meeting tonight
Thanks for the Info, last I heard the guy who invented the Blackberry owned them, he was from Haamilton. I really couldn't see how they could pput another team in the middle of three others. Good Luck
Bring back the Devil Dog, that new thing looks like a Collie
The last "real" owner was Jerry Moyes, of Swift Transportation fame (or infamy.....)
He's local and took the team into bankruptcy.
Jim Balsillie (of blackberry fame) tried to buy the team and move them using the bankruptcy as the tool to break the lease with the city of glendale
This went through bankruptcy court until the start of this past season with a bankrupt ownership and all the complications that go along with it.
Eventually the bankruptcy judge dismissed any of Balsillies claims to the team with prejudice
The NHL assumed ownership of the team under the caveat that they would honor the existing lease terms, but were not tied to it beyond this season and they would take on losses/profit and manage the team until a local owner is found.
The main hurdle to local ownership is reworking the lease agreement to be favorable.
Two serious groups emerged, Ice Edge Holdings and one led by Jerry Reinsdorf
While neither were perfect, many fans preferred the Ice Edge deal and it seemed to be the more favorable deal.
The city voted on which deals they would continue to negotiate - they dismissed Ice Edge and advanced with Reinsdorf ........ it's assumed by many they did this due to ties with the council and Reinsdorf
Apparently talks with Reinsdorf have stalled and the CoG has been in touch with IEH. When the CoG refused to offer exclusive negotiation to IEH their most recent attempt quit progessing (happened this week).
Tonight the CoG must vote on if they are willing to cover some potential losses sustained by the NHL if the coyotes operate here next year, how much in losses they're willing to cover and how to set aside funding to cover those losses if they agree to do so.
The NHL wants this wrapped up soon because they don't want to be stuck in a bad position next season. They want reassurance that if the CoG isn't able to work out a lease agreement and find a local buyer soon that the NHL won't be stuck holding the bag next year.
I see no way that Balsillie will get his hands on the coyotes after their legal fight.
I could see the CoG screwing things up to a strong enough degree that the NHL sends them to an ownership group in Winnipeg that also owns the arena up there ready to play for next season.
yep - the board passed a measure to create a special taxing district or some like funding mechanism to pay the league to operate the arena for next season for an amount not to exceed $25M
i'm sure there will be some legal challenges, but doubt they will stick
still need to find a long term owner, but it does look like there will be at least one more season of hockey in glendale unless things fall apart to the point where Glendale (or interested buyers) give up
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