NHL commissioner Gary Bettman and his board of governors have now publicly admitted that keeping a hockey franchise in Phoenix, Ariz., is about as stupid a business decision as anyone could possibly make.
And, to add to the NHL’s stupidity, they have made this admission not to come clean, as such, but to try and stick it to Canadian billionaire Jim Balsillie. Talk about all the wrong reasons…
We know this because the Toronto Star (not that we necessarily believe the Toronto Star) has apparently uncovered a report that suggests the NHL will set a relocation fee on the Coyotes franchise from between $101 million and $195 million. Balsillie’s PSE Sports and Entertainment Co., filed a court document written by world renowned sports business analyst, Dr. Andrew Zimbalist, suggesting the fee should be somewhere between $11.2 million and $12.9 million.
Oh, oh. That’s when the NHL got all stupid.
The NHL’s documents allegedly state: “The methodology used by PSE’s expert, Dr. Andrew Zimbalist, in calculating a relocation fee range of $11.2 million and $12.9 million does not pass muster. the notion that a team in Hamilton would be worth only $11.2 million to $12.9 million more than a team in Phoenix is patently absurd.”
Dum, da dum, dum… D-U-M-M-M-M-M-M-M.
The National Hockey League just set itself up for the following criticism:
1) The NHL now admits that a franchise in Phoenix is worth an amazing $175 million MORE in Hamilton than in Phoenix and it’s trying desperately to keep a team in Phoenix. Speaking of patently absurd.
2) Sounds like the NHL is preparing to have Jim Balsillie’s bid to buy the Coyotes accepted by the bankruptcy judge.
3) If a team is worth an absurd amount more in Hamilton (your words, NHL), and since you have a potential owner, why not sell that potential owner a Hamilton expansion franchise for $200 million and make the money yourself? It’s not like the potential owner needs to buy a shitty franchise like Phoenix and move it. Let him start from scratch and you pocket the dough.
4) If a team is worth at least $175 million more in Hamilton than Phoenix and you don’t want the team in Hamilton, but you do want it in Phoenix, are you not negligent in your fiduciary duties to the other league owners and your partners, the players? Or are they just as stupid as you?
5) Is the NHL now publicly admitting that anyone who would own a team in Phoenix is a “patently absurd” human being? There is, no doubt, a sucker born every minute, but when you admit that your Phoenix franchise, the one you want to buy for $140 million and then sell to a third party, is worth $175 million less than a team in Hamilton, Ont., what sane business person — even an in-bred, silver-spooned, bratty heir with shit for brains – would bite on that deal? It’s like Bettman is purposely trying to kill his own business.
With this alleged court statement, Gary Bettman and the NHL have clearly admitted they are idiots. But, hey, that’s the first step toward fixing the problem.
Wonder if Bettman ever stops to think that he would have been better off leaving the Jets in Winnipeg?