Phoenix Coyotes file for Chapter 11 bankruptcy

[dbackjon]

The Phoenix Coyotes have filed for Chapter 11 reorganization to implement a court-approved sale of the team under the federal bankruptcy code, the team announced Tuesday.

The filing included a proposed sale of the franchise to PSE Sports & Entertainment, LP, a Delaware limited partnership ("PSE"), which would move the franchise to southern Ontario, Canada.

"Extensive efforts have been undertaken to sell the team, or attract additional investors, who would keep the team in Glendale," said Coyotes' Chief Executive Officer and Managing Member Jerry Moyes,

Creating a process under the supervision of a judge assures that anyone wishing to purchase the team will have the opportunity to bid, Moyes added.

http://www.azcentral.com/business/artic ... s0506.html

[TwinTownBisonFan]

coming soon to the NHL:

[dbackjon]

The article mentions a move to Ontario...

[TwinTownBisonFan]

Your Hamilton Tigers then.

[AZGrizFan]

Who?




They still play hockey?

[UNHWildCats]

The NHL has stripped the owner of his authority to run the team and the NHL will represent the Coyotes in bankruptcy court to "protect the interest of fans in Arizona and the other 29 clubs of the NHL"

http://sports.yahoo.com/nhl/news;_ylt=A ... &type=lgns

[TwinTownBisonFan]

The NHL has stripped the owner of his authority to run the team and the NHL will represent the Coyotes in bankruptcy court to "protect the interest of fans in Arizona and the other 29 clubs of the NHL"

http://sports.yahoo.com/nhl/news;_ylt=A ... &type=lgns

In other words, ol commish has stepped in to keep a 7th team out of Canada... good lord Betteman's an asshole.

[AZGrizFan]

The NHL has stripped the owner of his authority to run the team and the NHL will represent the Coyotes in bankruptcy court to "protect the interest of fans in Arizona and the other 29 clubs of the NHL"

http://sports.yahoo.com/nhl/news;_ylt=A ... &type=lgns

In other words, ol commish has stepped in to keep a 7th team out of Canada... good lord Betteman's an asshole.

The Phoenix fans have spoken LOUD AND CLEAR, what with all the fans dressed up as empty seats this season, that they do not CARE if the Coyotes are here or not. If a tree falls in the forest and no one is around to hear it, does it still make a sound?

Hockey. What a joke.

[Marcus Garvey]

The NHL has stripped the owner of his authority to run the team and the NHL will represent the Coyotes in bankruptcy court to "protect the interest of fans in Arizona and the other 29 clubs of the NHL"

http://sports.yahoo.com/nhl/news;_ylt=A ... &type=lgns

In other words, ol commish has stepped in to keep a 7th team out of Canada... good lord Betteman's an asshole.

I agree with the a-hole part, but not why.
A 7th team in Canada would work, but not in Southern Ontario. Where would it go? Windsor? London? Hamilton? St. Catherines? Niagara Falls? The Maple Leafs, Red Wings and Sabres will fight a move to that region.

According to reports in the paper this morning, NHL officials were lining up a buyer for the team who would keep them in Phx. Whether or not that's a good idea is moot to my point. The Coyotes owner, Jerry Moyes, filed for Chapter 11 in order to circumvent any action taken by the league. The man has a well deserved reputation in Arizona for being a controlling, arogant jackass. His other business concerns are teetering on the edge of financial disaster because he leveraged himself too far to purchase it back from shareholders. I actually talked to some people who've dealt with his company, and they're not surprised by this action.

In the end, I don't think the Coyotes ought to stay in Arizona, but I understand what the league is doing. They'll probably wind up in Kansas City.

[SuperHornet]

There IS precedent if they want to send them to Hamilton and call them the Tiger-Cats. St. Louis had two Cardinals teams. New York had two Giants teams and two Yankees teams. Heck, the Cleveland/LA/St. Louis Rams are named after Fordham College.

But I'd still rather see a return of the Winnipeg Jets.

[TwinTownBisonFan]

In other words, ol commish has stepped in to keep a 7th team out of Canada... good lord Betteman's an asshole.

I agree with the a-hole part, but not why.
A 7th team in Canada would work, but not in Southern Ontario. Where would it go? Windsor? London? Hamilton? St. Catherines? Niagara Falls? The Maple Leafs, Red Wings and Sabres will fight a move to that region.

According to reports in the paper this morning, NHL officials were lining up a buyer for the team who would keep them in Phx. Whether or not that's a good idea is moot to my point. The Coyotes owner, Jerry Moyes, filed for Chapter 11 in order to circumvent any action taken by the league. The man has a well deserved reputation in Arizona for being a controlling, arogant jackass. His other business concerns are teetering on the edge of financial disaster because he leveraged himself too far to purchase it back from shareholders. I actually talked to some people who've dealt with his company, and they're not surprised by this action.

In the end, I don't think the Coyotes ought to stay in Arizona, but I understand what the league is doing. They'll probably wind up in Kansas City.

Hamilton has supported a CFL team for decades... Maple Leafs tickets are north of 100 bucks on average... detroit and buffalo are non-factors in southern ontario... it's a hockey-crazy market with an NHL-ready arena...

all of that said... KC would be perfectly acceptable. but they should be put in a division with the Wild, Stars, Avs and a team to be named later... (anything to get MN out of the northwest)

[TwinTownBisonFan]

There IS precedent if they want to send them to Hamilton and call them the Tiger-Cats. St. Louis had two Cardinals teams. New York had two Giants teams and two Yankees teams. Heck, the Cleveland/LA/St. Louis Rams are named after Fordham College.

But I'd still rather see a return of the Winnipeg Jets.

Hamilton is a separate media market in Canada...

[dbackjon]

Local sports radio was talking about this at lunch - plan would be to move to the Waterloo/Kitchener area of Ontario.

That area is one hour from Toronto, and about two hours from Buffalo. Both franchises are fighting this, which is why the NHL is stepping in.

[dbackjon]

Also - breaking the lease in Glendale would cost on the order of $750 million dollars...

[TwinTownBisonFan]

Local sports radio was talking about this at lunch - plan would be to move to the Waterloo/Kitchener area of Ontario.

That area is one hour from Toronto, and about two hours from Buffalo. Both franchises are fighting this, which is why the NHL is stepping in.

Betteman is stepping because he doesn't want this guy owning a team... he blocked him from buying Nashville too... i dont know the whole story, but it's personal between these two i think.

[dbackjon]

Local sports radio was talking about this at lunch - plan would be to move to the Waterloo/Kitchener area of Ontario.

That area is one hour from Toronto, and about two hours from Buffalo. Both franchises are fighting this, which is why the NHL is stepping in.

Betteman is stepping because he doesn't want this guy owning a team... he blocked him from buying Nashville too... i dont know the whole story, but it's personal between these two i think.

And Pittsburgh...

[OL FU]

Who?

Phoenix Coyote - I thought it was some movie star I didn't recognize.

[UNHWildCats]

Also - breaking the lease in Glendale would cost on the order of $750 million dollars...

Ya well being in bankruptcy Glendale maybe kissing that money goodbye.

[Marcus Garvey]

Also - breaking the lease in Glendale would cost on the order of $750 million dollars...

Ya well being in bankruptcy Glendale maybe kissing that money goodbye.

That's assuming the judge allows them bankruptcy protection. I think the NHL is going to argue against that.

[dbackjon]

Ya well being in bankruptcy Glendale maybe kissing that money goodbye.

That's assuming the judge allows them bankruptcy protection. I think the NHL is going to argue against that.

Yes - they are arguing that since they have been funding the Coyotes, they had the right to take over the team.

[TwinTownBisonFan]

That's assuming the judge allows them bankruptcy protection. I think the NHL is going to argue against that.

Yes - they are arguing that since they have been funding the Coyotes, they had the right to take over the team.

anything to keep Balisle from owning a team... God Betteman's a douche...

where was his "deep concern" when the league was shitting on good hockey towns in the early and mid 90's??? oh yeah... encouraging the moves...

[UNHWildCats]

That's assuming the judge allows them bankruptcy protection. I think the NHL is going to argue against that.

Yes - they are arguing that since they have been funding the Coyotes, they had the right to take over the team.

The NHL needs to let the bankruptcy proceed... The Coyotes will keep losing money as long as they are in Phoenix. Bankruptcy could allow them to get out of the lease without penalty and move the team to a place it can suceed, wether its with the guy who wants to buy them and move them to Ontario or if its a owner the NHL finds.

[BlueHen86]

There IS precedent if they want to send them to Hamilton and call them the Tiger-Cats. St. Louis had two Cardinals teams. New York had two Giants teams and two Yankees teams. Heck, the Cleveland/LA/St. Louis Rams are named after Fordham College.

But I'd still rather see a return of the Winnipeg Jets.

I'd like to see the team mover to either Winnipeg or Quebec.

[dbackjon]

There IS precedent if they want to send them to Hamilton and call them the Tiger-Cats. St. Louis had two Cardinals teams. New York had two Giants teams and two Yankees teams. Heck, the Cleveland/LA/St. Louis Rams are named after Fordham College.

But I'd still rather see a return of the Winnipeg Jets.

I'd like to see the team mover to either Winnipeg or Quebec.

So they can lose money even worse than in Phoenix like they did the first go arounds?

[Ivytalk]

In other words, ol commish has stepped in to keep a 7th team out of Canada... good lord Betteman's an *******.

The Phoenix fans have spoken LOUD AND CLEAR, what with all the fans dressed up as empty seats this season, that they do not CARE if the Coyotes are here or not. If a tree falls in the forest and no one is around to hear it, does it still make a sound?

Hockey. What a joke.

Word. Let the team move somewhere where it'll have fan support and a chance to make money.