What exactly would happen with a no sale?

The team would just fold and cease to exist?

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Wheelhouse

Your guess is as good as mine. No clue what this means...

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Oh lord, it's hard to be humble, when you're perfect in every way. I can't wait to look in the mirror, 'cause I get better looking each day. To know me is to love me, I must be a hell of a man. Oh lord, it's hard to be humble, but I'm doin' the best that I can.

Perhaps a no sale would open an auction to anyone but the Bettman and Balsillie camps... meaning Ice edge or JR could re submit bids...

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Wheelhouse

I think Betman would love this decision. If he is awarded the team there will be more financial ruin and a very serious anti-trust lawsuit awaiting. If he loses to Balsillie there is a very long and contentious lawsuit awaiting. If neither are awarded a team it is a stay of execution in a manner of speaking.

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Oh lord, it's hard to be humble, when you're perfect in every way. I can't wait to look in the mirror, 'cause I get better looking each day. To know me is to love me, I must be a hell of a man. Oh lord, it's hard to be humble, but I'm doin' the best that I can.

I just can't imagine the bankruptcy court ruling no decision and forcing the Coyotes to fold.

Isn't their job to relieve creditors?

With 4 bids having been on the table, I just don't see how they could let this happen.

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Wheelhouse

I would guess if he rejects all bids he would then put their assets up for liquidation? I don't even know what that would mean. Strange...

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Oh lord, it's hard to be humble, when you're perfect in every way. I can't wait to look in the mirror, 'cause I get better looking each day. To know me is to love me, I must be a hell of a man. Oh lord, it's hard to be humble, but I'm doin' the best that I can.

They just said that if he rules a no sale, they'd appoint a trustee to liquidate all assets.

If that's the case, I wonder if one of the assets would be entitlement to ownership of an NHL franchise...

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Wheelhouse

It's simple.

If the judge decides that both bids are just too full of conditions and other bullshit that would end up not being equitable to the creditors, he can order liquidation, with the proceeds being distributed amongst the creditors.

Liquidation of what? Elbow pads and pucks? They can't liquidate lost fees, unpaid rent, unused parking, or the building which is owned by the creditors.

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Oh lord, it's hard to be humble, when you're perfect in every way. I can't wait to look in the mirror, 'cause I get better looking each day. To know me is to love me, I must be a hell of a man. Oh lord, it's hard to be humble, but I'm doin' the best that I can.

What about players' contracts and the rights to the 30th NHL franchise?

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Wheelhouse

Glendale looks like crap here. They concede that either bid will likely result in the team being moved, whether the NHL does it or Balsille.

The NHL is offering them $2M. Balsille is offering them $50M.

How can they POSSIBLY say that the NHL bid is a better option?

It's due to the possibility that the NHL keeps the team in Glendale.

They'd rather take the risk to keep the team there and have a multi million dollar arena wasting away rather than accept the 50 million dollars.

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Wheelhouse

That's a stretch at best. When the Judge makes a point of reminding Glendale's lawyer that there's a high probability the NHL will move the team anyways, it's pretty much a lock.

I don't understand this argument though.

Hasn't the biggest criticism of Bettman come from his persistence to keep teams in the sunbelt?

Now all of a sudden, people are saying the NHL is eager to move the team out of Glendale.

This whole time, Bettman has been trying to find an owner who will keep the team in Arizona.

So how is that a stretch?

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Wheelhouse

Glendale believes that if the NHL wins they will flip the team to Reinsdorf, who will in turn impose a $38million/year tax upon Glendale residents to pay for the lease over the next 5 years before relocating the team.

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Oh lord, it's hard to be humble, when you're perfect in every way. I can't wait to look in the mirror, 'cause I get better looking each day. To know me is to love me, I must be a hell of a man. Oh lord, it's hard to be humble, but I'm doin' the best that I can.

Glendale can't seem to agree with anybody on the lease. No lease, no arena. No arena, no team in Phoenix.

that arena wont waste away. it will still be used to for many many events, and lets be honest here, america west arena, the arena the suns play at, isnt exactly new. its 17 years old, and was obsolete by 1995.

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But are the Suns willing to pay out the ass to play in Glendale, in an arena that is just 7 years newer?

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Wheelhouse

They'll get AHL hockey, Lacrosse, soccer, Arena Football, etc. There will be plenty of tenants.

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Oh lord, it's hard to be humble, when you're perfect in every way. I can't wait to look in the mirror, 'cause I get better looking each day. To know me is to love me, I must be a hell of a man. Oh lord, it's hard to be humble, but I'm doin' the best that I can.

its 11 years newer, and who knows. the arenas are so different, and the quality of glendales arena surpasses most arenas built SINCE then. its a world class facility.

but, ETC, arena football wont go in glendale arena, as the arena football league folded.

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