Baum Shoots Wide.


In a bizarre judgement, Baum has maintained the status quo for the Phoenix Coyotes, leaving Moyes, and it’s creditors, in the lurch.

So what now?

Do the creditors refuse to advance anymore goods?  Honestly, if you were already a creditor, and, say, the Coyotes request another 100k of hot dogs to be delivered, would you fill the order?

I’d seriously question throwing good money after bad.

One has to wonder what this teams cash flow situation is, and how long they can pay their bills without being advanced more funds…’cause it ain’t coming from Moyes.

So who?

The banks?  They won’t touch this mess.

The city?  No way.

Another investor?  Not without equity, and what is equity in a defunct franchise worth?  Zip.

That leaves the NHL, or Balsillie.

This is basically a statement that, either the NHL ups their offer, or failing that, voluntarily waives their objection to Balsillie.

Baum obviously believes Balsillies offer is the best, but is worried about burdening the creditors with years of on-going litigation and appeals.

So what is it going to be Gary, more money, less revenge, or a franchise shriveling on the vine?

Because without a conclusion, this ruling could functionally destroy the viability of the ‘Yotes as a going concern.

GN

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2 Responses to “Baum Shoots Wide.”

  1. Master Of Puppets Says:

    Dissolving the franchise and having a compression draft is probably an option too. Top 29 players get distributed and the rest stay in their respective minor teams and become free agents.

    NHL should then be on the hook for some percentage of the dollars to complete the bankruptcy. Hey you moved the team to a shitty market and it failed so deal with it.

    Oh and Bettman should be forced to resign and sign an agreement to never apply to run a sports related organization again.

    Balsillie for NHL commssioner!

    Schaedenfreud at its finest …

  2. LOL!
    So true.

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