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Balsillie and Bettman Go To War

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76Balsillie and Bettman Go To War - Page 6 Empty Re: Balsillie and Bettman Go To War on Mon May 11, 2009 9:32 am

shabbs


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Anyone thinking he's doing this purely for the love of the sport is in denial. Anyone thinking he's doing this purely for business is also in denial. He's doing it for both - he loves the sport and believes it's a good business decision.

77Balsillie and Bettman Go To War - Page 6 Empty Re: Balsillie and Bettman Go To War on Mon May 11, 2009 9:38 am

SeawaySensFan


Franchise Player
Franchise Player
shabbs wrote:Anyone thinking he's doing this purely for the love of the sport is in denial. Anyone thinking he's doing this purely for business is also in denial. He's doing it for both - he loves the sport and believes it's a good business decision.

How many of us would willingly lose a few bucks if we had the loot to own our own team? I know I would. Even an AHL team.

78Balsillie and Bettman Go To War - Page 6 Empty Re: Balsillie and Bettman Go To War on Mon May 11, 2009 9:39 am

shabbs


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A few bucks or a few hundred million?

Wink

79Balsillie and Bettman Go To War - Page 6 Empty Re: Balsillie and Bettman Go To War on Mon May 11, 2009 9:42 am

SeawaySensFan

SeawaySensFan
Franchise Player
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shabbs wrote:A few bucks or a few hundred million?

Wink

I mean a few bucks relative to your fortune. Ie. 10 million a year. Razz

80Balsillie and Bettman Go To War - Page 6 Empty Re: Balsillie and Bettman Go To War on Mon May 11, 2009 10:12 am

Acrobat

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To him, 10 million is pocket change. Changes in share valuation changes his net worth by five times that (or more) every day.

81Balsillie and Bettman Go To War - Page 6 Empty Re: Balsillie and Bettman Go To War on Mon May 11, 2009 11:02 am

davetherave

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Acrobat wrote:To him, 10 million is pocket change. Changes in share valuation changes his net worth by five times that (or more) every day.


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  • 82Balsillie and Bettman Go To War - Page 6 Empty Re: Balsillie and Bettman Go To War on Mon May 11, 2009 11:07 am

    wprager

    wprager
    Administrator
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    Acrobat wrote:To him, 10 million is pocket change. Changes in share valuation changes his net worth by five times that (or more) every day.

    We're not talking about cash in the bank, here.

    83Balsillie and Bettman Go To War - Page 6 Empty Re: Balsillie and Bettman Go To War on Mon May 11, 2009 1:27 pm

    shabbs

    shabbs
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    The battle continues...

    http://www.tsn.ca/nhl/story/?id=278327

    NHL says Moyes would execute proxies in favour of the commissioner of the NHL to control the equity and operation of the (club) by accepting the $38M cash support... Moyes is saying filing for bankruptcy is not a "voting" matter and thus was not given up.

    Stay tuned...

    84Balsillie and Bettman Go To War - Page 6 Empty Re: Balsillie and Bettman Go To War on Mon May 11, 2009 9:33 pm

    Acrobat

    Acrobat
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    wprager wrote:
    Acrobat wrote:To him, 10 million is pocket change. Changes in share valuation changes his net worth by five times that (or more) every day.

    We're not talking about cash in the bank, here.

    However, once you have a company that has demonstrated that degree of staying power, credit lines come into play. He would have access to hundreds of millions "on call" if required. He also would have (depending on what happened with the SEC hearings) a multitude of options which would be essentially like cash, as they would have been granted at a strike price so low as to guarantee profit.

    85Balsillie and Bettman Go To War - Page 6 Empty Re: Balsillie and Bettman Go To War on Tue May 12, 2009 11:01 pm

    davetherave

    davetherave
    All-Star
    All-Star
    Pretty funny article by Charlie Teljeur from The Hockey News...

    Loose Change: Why don't you like me?

    Charlie Teljeur, The Hockey News/2009-05-12 11:26:00

    You kind of get the feeling NHL commissioner Gary Bettman simply doesn’t like BlackBerry guru and franchise owner-wannabe Jim Balsillie.

    The commish will claim it’s all about business and simply a case of having every prospective owner follow archaic established league guidelines. But Gary guards the NHL’s virtue like a domineering father would protect his 17-year-old daughter from the smooth-talking biker dude who just moved into town.

    Balsillie, for his part, will do anything and pay anything (Note to Jim: it’s not the NFL. Hold out for that inevitable half-price sale) to secure himself a hockey franchise, provided he gets the authority to move it wherever he damn well pleases. This has irked (perhaps “annoyed” and possibly even “miffed”) the commissioner, who prefers to keep his dreams of pucks in the Land of the Cactus right beside his other dreams of hockey surpassing badminton in U.S. TV ratings; and that other one he had about candy-coated radial tires.

    Bettman has twice “saved” NHL franchises from the grip of this filthy-rich, historically successful monster, who no doubt only wants to own a hockey club to fulfill some foolish notion of having the building full for things other than the Ringling Circus and Monster Truck Rallies. Oh you idealistic idiot.

    Now the battleground is Phoenix. Balsillie wants the Coyotes (preferably on a flatbed) and Bettman is citing every writ, law and Biblical passage known to man to keep the team in a place where ice is normally only seen in cubes and away from an area that loves hockey as much as Miami residents evidently don’t.

    Bettman has such vigor for battling Balsillie you can’t help but think it’s gotten personal – and maybe it has. Witness Bill Daly’s recent “We don’t start fights, but we end them” declaration to Balsillie, which ranks right up there with the “No, you’re stupid” response to the 2005 Dick Pound drug allegations for league managerial eloquence.

    There are a number of theories as to why commissioner Bettman doesn’t like Balsillie.

    1. It’s a success thing. Balsillie has a net worth of $1.7 billion. Bettman will have to work approximately 700 years at his present salary to equal that amount, assuming he’s stubborn enough and, frankly, that insanely-healthy to do something so pig-headed. Don’t laugh. When the commish puts his mind to something…

    2. It’s an Ivy League thing. Bettman is Cornell Big Red and Balsillie Harvard Crimson. Perhaps Bettman is not as jealous of Balsillie’s academic blueblood as he is angry that both schools chose mascots of the same color. So much for so-called higher education.

    3. It’s an age thing. Bettman is 57 years old, Balsillie is 48. Sure nine years doesn’t seem like a huge difference, but keep in mind that at nine years of age Balsillie had a lemonade stand generating almost $12 million in sales, so you can see how that could make an under-achieving lawyer-guy like Bettman (didn’t join the NBA until he was a decrepit 29 years old) mighty angry.

    4. It’s a height thing. Neither man will ever damage a door frame (unless it’s in a smaller tree fort, which seems pretty juvenile for men of such stature to be toiling in), but Bettman is decidedly smaller than the relatively gargantuan Balsillie. Add that to age and income and it’s a wonder the commissioner hasn’t gone postal on the office staff.

    5. It’s a bald thing. In all reality, Bettman has more hair than Balsillie, but that’s like saying a pimple is more beautiful than a blister. Either way, the 12 more strands of hair Bettman possesses won’t likely make him feel superior or sleep any better at night (although technically it might since they do add a nice cranial buffer, which could make for a restful night).

    6.
    It’s a technology thing. Balsillie is Mr. Computer Wiz, Bettman has never been seen with any sort of computer or handheld device nearby. Maybe Gary has no idea what a BlackBerry even is and thinks Balsillie is just some rich, arrogant farming mogul. Could the commissioner simply be embarrassingly tech-deficient? I mean if hockey in the middle of the desert makes sense…
    The preceding was purely fictional and meant for entertainment purposes only. By entertainment, we mean we hope you laughed while reading it, framing it, or burning it. Any similarities between this and actual events is strictly coincidental and frankly, dumb luck. Remember to remind your lawyer about the made-up part, OK?

    Charlie Teljeur, creator of THN's hockeysockpuppettheatre cartoon, brings you Loose Change every second Tuesday through to June 22 and then will go on summer hiatus. Subscribe to The Hockey News today to have Charlie's cartoon delivered to you in each issue.

    Want to talk to Charlie about love, life, or Loose Change? Email him at charlieteljeur@hotmail.com

    86Balsillie and Bettman Go To War - Page 6 Empty Re: Balsillie and Bettman Go To War on Tue May 12, 2009 11:03 pm

    Hockeyhero22000

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    haha thats awesome

    87Balsillie and Bettman Go To War - Page 6 Empty Re: Balsillie and Bettman Go To War on Tue May 12, 2009 11:15 pm

    shabbs

    shabbs
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    HA HA! He nailed it. It's all about Bettman and his small penis.

    88Balsillie and Bettman Go To War - Page 6 Empty Re: Balsillie and Bettman Go To War on Tue May 12, 2009 11:19 pm

    shabbs

    shabbs
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    I see Moyes is trying to get the NHL to reveal who the other "interested parties" are that are lining up to buy the Coyotes...

    http://www.tsn.ca/nhl/story/?id=278453

    Naturally, the NHL doesn't want to give this info up... does it even exist?

    Wink

    The games continue...

    89Balsillie and Bettman Go To War - Page 6 Empty Re: Balsillie and Bettman Go To War on Wed May 13, 2009 7:54 am

    davetherave

    davetherave
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    Gretzky backs Reinsdorf bid

    TheStar.com/Hockey, May 13, 2009 by Damien Cox/Toronto Star

    It was not a good day for Jim Balsillie's public relations offensive.

    First, sources indicated yesterday that Wayne Gretzky is "supportive" of the plan presented by Chicago sports czar Jerry Reinsdorf to buy the Phoenix Coyotes and keep them in Arizona.


    Gretzky would stay with the team as head coach under the ownership of a group of investors headed by Reinsdorf that would conditionally offer an estimated $130 million (U.S.) for the troubled Phoenix club.

    Second, despite North American economic conditions some suggest are the worst since the Great Depression, Balsillie is reportedly seeking more than $120 million (Cdn.) in federal and provincial handouts to renovate Hamilton's Copps Coliseum if he can purchase the Coyotes out of bankruptcy and bring them north.

    According to the Hamilton Spectator, Balsillie would pay the initial $30 million (Cdn.) worth of upgrades to the arena, but then get the City of Hamilton to pursue the rest of the estimated $150 million (Cdn.) renovation bill with federal and provincial politicians.

    Neither Gretzky's support for Reinsdorf nor Balsillie's attempts to get taxpayers to help underwrite his NHL dreams will necessarily have any impact on the Arizona bankruptcy hearings that will decide the fate of the Coyotes starting next week.

    But Balsillie had already made it clear he planned to invite Gretzky to be part of the new Hamilton operation.


    Gretzky has so far declined to make any public comment on the future of the Coyotes.

    Balsillie's requests for public money, meanwhile, contradict his image as a champion of free enterprise bent on smashing the "illegal cartel" he has alleged has prevented any other NHL franchises from joining the Toronto Maple Leafs in the lucrative southern Ontario market.

    Until now, it was believed Balsillie would pay for the cost to bring Copps Coliseum up to NHL standards without government subsidies.

    It's unclear whether Gretzky would retain an ownership stake under the Reinsdorf proposal, which would also include a request for public monies. That offer is conditional on arena concessions from the City of Glendale worth an estimated $15-20 million (U.S.) per season.

    It's believed Reinsdorf has already negotiated an agreement with Glendale politicians.

    While the Reinsdorf bid is less than Balsillie's conditional $212.5 million (U.S.) offer, it's important to understand Reinsdorf and Balsillie are really bidding on different commodities.

    Reinsdorf's offer would be for an NHL franchise in Phoenix, while Balsillie's is an offer for a team he could relocate to Hamilton.

    Phoenix is not considered a top hockey market, while it's widely believed a franchise based in southern Ontario could be worth more than $400 million (U.S.).

    The job of the Arizona bankruptcy judge, of course, is to satisfy creditors, not to worry about which offer Gretzky may support or whether public financing is required for any bids.

    Next Tuesday, the court will hear submissions on whether the NHL or trucking magnate Jerry Moyes controls the Coyotes, and that could be a pivotal date in this battle for control of the NHL franchise.

    Balsillie, meanwhile, clearly considers the battle for the hearts and minds of Canadians a priority, which is why he launched a website designed to illustrate support for the concept of a seventh NHL team in Canada.

    The Research in Motion executive also offered a series of exclusive interviews to hand-picked media outlets last week in a bid to get his point of view out to the public. None of the interviews detailed his interest in securing taxpayer dollars to support his venture.

    Hamilton city council is expected to consider a lease deal with Balsillie tonight. City officials have said they want an arrangement that would keep the relocated Coyotes in Hamilton permanently, not temporarily until Balsillie builds an arena elsewhere.

    The league, meanwhile, has steadfastly maintained it controls the fate of the Coyotes through "irrevocable proxies" negotiated with Moyes in exchange for league financial assistance, and that the team should never have been in Chapter 11 in the first place.

    Soon, a bankruptcy judge will have his say on the matter.

    But Gretzky's support for a plan that would keep the Coyotes in the desert and Balsillie's grab for public money may change the way Canadians view the billionaire's audacious NHL ambitions.

    90Balsillie and Bettman Go To War - Page 6 Empty Re: Balsillie and Bettman Go To War on Wed May 13, 2009 8:13 am

    shabbs

    shabbs
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    Interesting article... this part does concern me...

    "Second, despite North American economic conditions some suggest are the worst since the Great Depression, Balsillie is reportedly seeking more than $120 million (Cdn.) in federal and provincial handouts to renovate Hamilton's Copps Coliseum if he can purchase the Coyotes out of bankruptcy and bring them north.

    According to the Hamilton Spectator, Balsillie would pay the initial $30 million (Cdn.) worth of upgrades to the arena, but then get the City of Hamilton to pursue the rest of the estimated $150 million (Cdn.) renovation bill with federal and provincial politicians."


    Jim, you want to buy and bring a team to Southern Ontario? YOU foot the bill, not the taxpayers.

    91Balsillie and Bettman Go To War - Page 6 Empty Re: Balsillie and Bettman Go To War on Wed May 13, 2009 9:57 am

    SeawaySensFan

    SeawaySensFan
    Franchise Player
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    shabbs wrote:Interesting article... this part does concern me...

    "Second, despite North American economic conditions some suggest are the worst since the Great Depression, Balsillie is reportedly seeking more than $120 million (Cdn.) in federal and provincial handouts to renovate Hamilton's Copps Coliseum if he can purchase the Coyotes out of bankruptcy and bring them north.

    According to the Hamilton Spectator, Balsillie would pay the initial $30 million (Cdn.) worth of upgrades to the arena, but then get the City of Hamilton to pursue the rest of the estimated $150 million (Cdn.) renovation bill with federal and provincial politicians."


    Jim, you want to buy and bring a team to Southern Ontario? YOU foot the bill, not the taxpayers.

    Real economic stimulus includes public works projects funded by the government. This is less a handout than it is an opportunity for the government to put our tax dollars to good use. Ie. employing people and improving public property.

    92Balsillie and Bettman Go To War - Page 6 Empty Re: Balsillie and Bettman Go To War on Wed May 13, 2009 12:51 pm

    shabbs

    shabbs
    Hall of Famer
    Hall of Famer
    SeawaySensFan wrote:Real economic stimulus includes public works projects funded by the government. This is less a handout than it is an opportunity for the government to put our tax dollars to good use. Ie. employing people and improving public property.
    If the economic times were different, I would not have an issue... but, personally, I think moneys like that could be better spent considering the economic down turn we're in.

    93Balsillie and Bettman Go To War - Page 6 Empty Re: Balsillie and Bettman Go To War on Wed May 13, 2009 12:57 pm

    shabbs

    shabbs
    Hall of Famer
    Hall of Famer
    Reinsdorf's bid is apparently in the range of $130M... and of course he'll keep the Coyotes in Phoenix.

    Sponsored content


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