Tag Archives: redfield t. baum

Bettman Working On His Revisionist View of Hockey History As Canada Becomes His Final Frontier.

TAMPA — This week, Gary Bettman started his “Dick Cheney Tour.” It’s a simple format. You find people in the media who won’t challenge your assertions and then you go out and change history.

This past week, Bettman sat down with Toronto-based Sun Media and got all warm and fuzzy about his relationship with Canadian hockey markets. In a piece entitled: Bettman Asks Canada to Be Patient, the commissioner of the National Hockey League suggested he had a great track record “in respect to the Canadian franchises.”

“For anyone that knows my record in respect to the Canadian franchises, that’s simply not true (that he tried to keep Jim Balsillie out of Hamilton simply because he disliked teams in Canada),” Bettman told the Sun. “I can’t satisfy those who believe our intentions were other than straightforward of ensuring NHL rules and procedure. That’s what this was about.”

Really? What rules? And at what cost?

When Bettman forced the Jets out of Winnipeg in 1996, he convinced the two hockey-ignorant rich guys who bought the franchise that if they couldn’t cut a deal with the Target Center in Minneapolis, they should take the team to a basketball gym in downtown Phoenix, Ariz.

Dr. Richard Burke and his partner Steven Gluckstern lost a fortune on the Coyotes (mostly because of the restricted view arena they were forced to play in) and soon sold the team to Steve Ellman and Jerry Moyes who lost millions more. Since 2004, the Coyotes have lost $389 million and that doesn’t count this year. Currently, the Coyotes are on pace to lose approximately $140 million on operations. Especially after virtually giving away tickets to the season home opener, then drawing announced crowds of 6,899 and 9,162 to their next two games.

So in order to “uphold the rules” of the NHL, Bettman is going to ask the other 29 franchises to find another $140 million (at least) to cover the losses of a team owned by the league (as long as Judge Redfield T. Baum allows the NHL to ultimately purchase the Coyotes for about $140 million out of bankruptcy). Nice rules.

Trouble is, Bettman has always found ways to bend his own rules. For those who remember the loss of the Jets, owner Barry Shenkarow proposed a “group ownership” position, in which a number of Winnipeg business people would own an equal share of the team. Bettman said, “No,” that the NHL’s governors wanted to deal with only one prominent person in each market, a person who could make financial decisions at the drop of a hat.

Bettman put a halt to the group ownership plan in Winnipeg, adding more fuel to the team’s demise, but a few years later he went ahead and allowed it in Edmonton, since it was the only way to save the Oilers. In essence Bettman made up the rules as he went along: First, to take a team out of Winnipeg and put it in Phoenix and then, to save a team in Edmonton. Some Canadian markets he likes, others he doesn’t. Rules be damned.

So if Gary Bettman simply asks Canada to be patient, I wouldn’t believe him. However, if he told the truth (remember, this is the guy who said the league was NOT funding the Coyotes last year and then, in court, was forced to tell the truth) and admitted that he had to come back to Canada because he had no other alternative in the recession-crippled United States, I’d probably listen to that.

Remember, the six Canadian franchises make up 33 per cent of the league’s revenues. Despite what Bettman says or thinks, he’s going to have to come back to Canada eventually.

The Phoney Coyotes Have Lost $389 Million Since 2004

I love to say I told you so. It’s fun.

People used to look at me funny when I suggested that the Phoenix Coyotes had lost far more than $500 million since the Winnipeg Jets were moved to the desert in 1996.

They won’t look at me funny anymore.

Yesterday, when Phoenix bankruptcy Judge Redfield T. Baum rejected both bids to purchase the Coyotes — although the NHL will be allowed to amend its bid and try again — he also opened up the books to the public. Here are the numbers:

The Phoenix Coyotes Hockey Club lost the following amounts of money:

2004 — $75 million

2005 — $50 million

2006 — $75 million

2007 — $117 million

2008 — $72 million

That’s $389 million in five seasons. $389 million!!!!!!!

Baum said: “Financial statements raise substantial doubt as to the company’s ability to continue as a going concern.”

Well, no shit Sherlock.

The Phoenix Coyotes are a disaster. And it’s very likely the Florida Panthers, Anaheim Ducks, Atlanta Thrashers, Nashville Predators, Tampa Bay Lightning and New York Islanders are closing in on disaster territory, as well.

The imagination runs wild thinking of how much money that Phoenix franchise will lose this year. And ol’ Judge Redfield T. Baum, on the eve of the 2009-2010 NHL season, thinks it will be a good idea if that dreadful hockey club stays right there  in Glendale, Ariz., for the next seven months.

The people who run the NHL, who had their “membership selection right and control over home team location rights” protected by a bankruptcy judge who has decided to drive a joke of a franchise deeper into the financial abyss, should be counting their lucky stars tonight. Anybody else who looked at those numbers would have yelled “Shut that thing down, right now!”

No wonder the U.S. in a recession/depression. This is a wonderful example of how money is frittered away in the United States. There wasn’t one person in this entire exercise who demonstrated any fiduciary ability whatsover. I wonder how many people have been stiffed by this “business?”

Sadly, throughout this entire procedure, there has not been one single person who has provided even the slightest hint that he could run a one-car funeral. I fear for the future of capitalism.

This week’s question: How much money WILL the Phoenix Coyotes lose this year? The over-under line is at $200 million.

NHL Says No to Balsillie. Accepts Offer for Coyotes That is $64 Million Less. Is That Good Business?

So it’s official. Er, sort of. The Phoenix Coyotes will be sold to Jerry Reinsdorf, owner of the Chicago White Sox, while Jerry Moyes, the guy who has lost more than $300 million on this dog of a franchise, has to sit back and watch as a man, handpicked by the commissioner, a guy who bid $64 million less than Canadian billionaire Jim Balsillie, gets to take over the team.

Wow! It would appear that for the first time in the history of the business of sports, a franchise for sale was purchased for 64 MILLION freakin’ dollars less than the highest bid. WTF! Meanwhile, the poor guy who tried to make ice hockey work in the desert appears to have no say in the sale of HIS team. Get the feeling that anyone who would EVER do business with the National Hockey League is little more than a sucker that Bernie Madoff missed.

On Wednesday, the NHL’s board of governors unanimously rejected Balsillie’s $212.5 million application to become owner of the Desert Dogs while “unanimously(?)” approving Reinsdorf’s $148 million bid.

According to Canadian Press, “NHL commissioner Gary Bettman said the process was necessary to comply with the league’s constitution and bylaws and an order by U.S. Bankruptcy Court Judge Redfield T. Baum.”

“We will so advise the bankruptcy court and we will move this process forward,” Bettman told the New York Post.

Meanwhile, a spokesman for Balsillie told the CP that Wednesday’s decision would not stop the RIM CEO from his pursuit of the Coyotes. An auction for bidders who would commit to keeping the team in Glendale, Ariz., will be held this coming Wednesday, provided the judge finds “the bids satisfactorily meet the demands of the team’s creditors.”

That means, of course, that Balsillie’s bid is not dead. One can’t imagine the creditors would be happy with a bid that is $64 million less, a bid that would probably cost most of the creditors hundreds of thousands of dollars.

And so not surprsingly, Moyes filed a suit claiming that Reinsdorf’s offer “cannot be approved as a matter of law” and that “there are no qualified bidders” based on terms set by the court.

Get the sense this mess is a long way from over?

Red Wings Lose, Balsillie and Real Hockey Fans Lose More

DETROIT — The Pittsburgh Penguins might have shocked the Detroit Red Wings, but they didn’t shock themselves.

Last Friday night at Detroit’s Joe Louis Arena, the Penguins got a pair of goals from Maxime Talbot and a great goaltending performance from Marc-Andre Fleury en route to a 2-1 victory over the Red Wings in Game 7 of the 2009 Stanley Cup final.

With the win, Sidney Crosby got his first Stanley Cup and the Penguins avenged last year’s six-game loss to the Wings in the final. It’s unlikely anyone in hockey — except for the true Penguins believers and all those folks who hate the Red Wings for being winners — expected Pittsburgh to win four of the last five games of the series to claim the Cup.

“Dream come true. It’s everything you work for,” said Crosby, the youngest captain ever to win a Cup and a young man who was also criticized by the Red Wings for not shaking hands with Wings captain Nick Lidstrom after the game. “It just feels so good. This is exactly how you picture it, what you play for.”

It was only the 14th Game 7 in Stanley Cup finals history, although it was the fifth Game 7 of this decade. It was also the first time a road team had won a Game 7 since the Montreal Canadiens beat the Chicago Blackhawks in 1971.

This year’s final was sensational, perhaps one of the best Cup finals in more than two decades. It was an amazing comeback by the Penguins, who trailed 2-0 in the series and came back to win four of the last five games.

Evgeni Malkin, who was the NHL’s leading scorer in the regular season and in the playoffs was named playoff MVP, winning the Conn Smythe Trophy.

“For us, it was a different guy every night,” Crosby said. “That save that Marc (-Andre Fleury) made with one second left, he’s done that a number of times in the series.”

Crosby was referring to Fleury’s desperation save on Lidstrom in the dying seconds that preserved the Penguins victory.

Meanwhile, for winning coach Dan Bylsma, a former draft pick of the  Winnipeg Jets, the victorty was almost hard to believe.

“Life’s a bugger,” Bylsma said during his post-game press conference. “I had dreams about this day. I hoped this would happen someday, but good coaches have coached a long time and never gotten an opportunity like this. A lot of times, your first opportunity doesn’t come with a team that’s this talented or this group of players. I’m very fortunate in that regard.”

While most hockey fans were pleased with the outcome of the Stanley Cup final, not many were happy with Judge Redfield T. Baum’s decision to block Jim Balsillie’s attempt to buy the Phoenix Coyotes and move them to Hamilton.

In a 21-page document Baum wrote that the court didn’t feel there was enough time to resolve all the issues before the offer for purchase of the insolvent team to Balsillie (for a hefty $212.5 million) closed on June 29.

The question now is: Who IS going to pay for the disaster that is the Phoenix Coyotes. The league says it will find an owner. It also claims the reason for the financial demise of the Coyotes was rotten ownership and bad management, meaning NHL commissioner Gary Bettman believes owner Jerry Moyes is nothing more than a bank, Wayne Gretzky is a buffoon and Doug Moss is an idiot.

I wonder if Bettman has the stones to say that to their faces?

Regardless, Bettman loves to say he saved the Pittsburgh Penguins and can do the same with the Coyotes. Great! So is he going to demand that the Penguins give Sidney Crosby, Jordan Staal, Evgeni Malkin and Marc-Andre Fleury to the Coyotes? Because if you understand anything about hockey — or North American sport, for that matter — the only way you can turn shit into Shinola is if you give a city a winner.

Pittsburgh, when it was in trouble, was able to draft some of the best players ever to play the game. Unless Phoenix can use that sixth pick this year to come up with the next Gretzky (player Gretzky, not coach Gretkzy), Bettman won’t be able to save anything. After all, the Coyotes already have a new arena.

Hockey is dead in Phoenix and Gary Bettman along with his hand-picked new owner won’t bring it back to life.