Balsillie’s Offer to Buy Coyotes Rejected

An Arizona court ruled yesterday that Canadian billionaire, Jim Balsillie, could not buy the Phoenix Coyotes and move them to Hamilton, Ontario.  The 21-page judgment determined that “there wasn’t enough time to deal with all the unresolved issues raised by the unprecedented case.”

According the the judge, there were too many problems to resolve before the June 29, 2009 closing date that had been set in an effort to speed things along.  Incredibly, Balsillie’s plan was to have the team in place for the 2009-10 season.

I don’t mean to be rude but I find that slightly arrogant.  First of all, setting a close date that is so soon really seems like a sign of someone who is used to manipulating and pressuring people in order to get what they want.

Second, if you care about a team, you aren’t going to want to rush such a major transition.  Moving from Phoenix to Hamilton is a huge deal and, while I understand that the Coyotes are in trouble, I don’t think rushing a move is the answer to their problems.

Anyway, I know NHL Commissioner Gary Bettman is celebrating since the league had argued that “the bid was designed to skirt league rules on the transfer of ownership and relocation and should be rejected for that reason.”  I am inclined to agree after what I’ve seen.

I am not sure, however, that I agree with the NHL’s assertion that the Coyotes could still work in Phoenix despite the fact that in the 13 years since the team moved to Arizona, they’ve actually lost $300 million.

On the other hand, Balsillie has unsuccessfully tried to buy the Pittsburgh Penguins and Nashville Predators.  While the Preds continue to struggle, the Penguins have just won the Stanley Cup which could really spark interest in their market.  Maybe it’s good that they stayed exactly where they are.

It will be interesting to see what happens to the Coyotes from this point forward.

image: TSN