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Post by razorsedge on Jun 15, 2009 19:42:11 GMT -5
PHOENIX -- Jim Balsillie's attempt to bring the Phoenix Coyotes to Hamilton has been rejected by an Arizona bankruptcy judge.
Redfield T. Baum's much anticipated ruling came down Monday night, nearly a week after a dramatic hearing in his Phoenix court.
In the 21-page document he said the court didn't believe there was enough time to resolve all the various issues before the sale of the insolvent team to Balsillie for US$212.5 million that was due to close June 29.
That nullifies the proposed June 22 auction for the team and other related deadlines.www.tsn.ca/nhl/story/?id=281971
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Post by mcguire4 on Jun 15, 2009 19:43:40 GMT -5
lol....
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Post by razorsedge on Jun 15, 2009 19:52:39 GMT -5
I see this as an opportunity for our phantom ownership group to get in on the auction (assuming bids for relocation will be accepted).
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Post by wagner3 on Jun 15, 2009 19:56:38 GMT -5
need to read the fine print...but i believe that it's just balsillie/moyes request to have the team auctioned off by the end of june that was rejected...it is still possible the team could be auctioned and relocated if an acceptable bid to keep the team in phoenix cannot be obtained...
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Post by DEATHBYPOPCORN1990 on Jun 15, 2009 19:57:52 GMT -5
LMFAO.............He BLEW it AGAIN!
Get it through your head BALDY, a ROGUE owner in the league will never happen!
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Post by razorsedge on Jun 15, 2009 21:05:11 GMT -5
need to read the fine print...but i believe that it's just balsillie/moyes request to have the team auctioned off by the end of june that was rejected...it is still possible the team could be auctioned and relocated if an acceptable bid to keep the team in phoenix cannot be obtained... Thats what I took it as (Balsillies timeline). The team is still bankrupt and the judge still needs to look after the creditors owed. An auction would be the best way, though the NHL still gets to decide on relocation.
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Post by USArizona on Jun 15, 2009 21:18:00 GMT -5
Why do I always find out these things on this website 1st?
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Post by JETStender on Jun 15, 2009 22:43:01 GMT -5
This just means there will be no decision on a move for next season.
This in no way means this is over.
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Post by Brent on Jun 15, 2009 23:07:59 GMT -5
Jim's response via an email signed up to those on the MakeitSeven list: Jim Balsillie's bid to bring a seventh NHL team to Canada continues. We're still here. The Phoenix court confirmed Mr. Balsillie was approved as an NHL owner in 2006 and remains so. We believe he has made the best offer and Hamilton remains the best location for this team. The court did not approve either our approach or the NHL's. Judge Baum did state he does not have time to decide all the relocation issues. But the court still controls the sale process. As a result, we look forward to hearing from the NHL soon on its view of our relocation application and an appropriate relocation fee, so as to allow the court to determine if that fee is reasonable. We still think there is enough time for the NHL to approve Mr. Balsillie's application and move the team to Hamilton by September. Makeitseven supporters need to make their voices heard to convince the league by participating in Make It Seven day on June 19. Read more about how you can support Make It Seven Day at www.makeitseven.ca. Jim will be emailing all of us with his planned next steps, so we continue to ask you to urge people to sign up now to show their support. Tell your friends, family members, neighbors and co-workers to sign up. Together we will Make It Seven.
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