Houston Aeros 1994-2013: Thank you for all the great memories and two decades of great hockey and entertainment.

Tuesday, August 11, 2009

Coyote Creditors Now Support Reinsdorf Bid

Last week, after the largest creditor of the Phoenix Coyotes backed Jim Balsillie's bid for the team as the only one that they would accept, I thought for sure the Coyotes would be no longer for Phoenix after this season. But today, that same creditor announced that it has reached a deal with Jerry Reinsdorf, so they are now willing to accept Reinsdorf should his bid be chosen by the judge -- I still don't understand this in that it still does not appear that Reinsdorf is parting with any cash, but if the creditor's happy, then the judge should be happy. (There's no word on how all of the creditors feel about this, but the Court cares more about the big guys than it does the little guys.)

Frankly, I now think this dooms Balsillie's bid. Sorry Canadians, but it's looking like a city that doesn't really seem to want the team is going to continue to have a team while a country that loves hockey continues to have an under-served market.

It still appears, however, that Reinsdorf has to work out a deal with Glendale over the use of the arena. And the auction for September 10 is open to any and all bidders, so it's still possible that another bidder could swoop in and making an even better bid which the judge would accept. I still think, from what I've read of Reinsdorf's bid, that the Coyotes are doomed to failure to Phoenix, but instead of ending it, the NHL is just going to stretch things out because of Bettman's hatred of Balsillie, and I'm surprised that Reinsdorf is willing to go along with this -- oh, wait, no I'm not as there appears to be a rather crooked political deal going on involving Reinsdorf.


Forecheck said...

Crossin' the highway late last night,
He shoulda looked left and he shoulda looked right,
He didn't see the station wagon, car,
The skunk got squashed and there you are!
You got yer
Dead skunk in the middle of the road,
Dead skunk in the middle of the road,
Dead skunk in the middle of the road,
Stinkin' to high heaven!
This one makes our Main Street choo choo deal look 100% ethical by comparison.

Anonymous said...

FC humor seems apropos even if it has an odor to it, LOL.