I just saw this in my feed reader:
Canadian billionaire Balsillie sets Sept. 14 deadline for Coyotes deal
Um, does this seem smart?
PHOENIX — Canadian billionaire Jim Balsillie has submitted an amended proposed agreement to buy the bankrupt Phoenix Coyotes for US$212.5 million and immediately move them to Hamilton, with or without the NHL’s consent.
The document filed Monday in U.S. Bankruptcy Court says Balsillie can walk away from the deal if the contentious issues in the complex case have not been resolved in his favour by Sept. 14. That’s four days after the scheduled auction of the team and one day before the Coyotes are to play their first pre-season game.
So, let me get this straight. Jim Balsillie is going to pull his deal if he doesn’t get his way by a certain date? Doesn’t that just give the NHL another timeframe to drag their feet and force him out? Why does Balsillie keep giving the NHL ammo?
And this may be the more obvious question. Why not keep the team in Phoenix for one year, reduce your bid a little to offset that cost, and move them next year, when it makes more sense? Am I the only one who thinks that way? What am I missing?
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