bankruptcy news canada
What business does the government have in this?
http://sports.yahoo.com/nhl/news;_ylt=AvmLESxyddrLNZUQNKkJcRF7vLYF?slug=ap-coyotes-bankruptcy&prov=ap&type=lgns
“A bankruptcy judge has sidestepped the issue of who controls the Phoenix Coyotes for now and centered his attention instead on whether the team should be allowed to move to southern Ontario, Canada.”
Why does the government have any say as to which territories it gives to its members? There’s nothing stopping Balsillie from moving the Coyotes to Hamilton, he’s just not allowed to play NHL games there. The league grants its members territories, and part of the price you pay for a team is paying for the NHL territory that team owns. Why does the government think it has any say in how the NHL governs itself?
I would love to see a team in Hamilton, but I just don’t get why this judge thinks he or the branch of government he represents has any say as to which territory the team is leasing from the NHL. Any insights?
I read that story earlier, and despite the poorly written opening paragraph, I didn’t get the feeling that the judge was trying to say anything about whether the team *could* move. That’s always been up to the NHL and the board of governors. Basically, I think what’s going on now, unless I’m misunderstanding, is determining whether Moyes even has a right to sell the team and/or put it into bankruptcy in the first place.
Sorting out who really owns the franchise at this point will determine whether bankruptcy is even on the table. If it isn’t, this whole thing gets thrown out of court and the Coyotes essentially become a ward of the NHL. Then the league can entertain offers from as many buyers as it wants — and you know they’ll give preference to buyers who want to keep the team in Phoenix.
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Teetering on the brink of bankruptcy; Rise in interest rates could push many over the edge.(Canada Wire): An article from: Winnipeg Free Press $9.95 This digital document is an article from Winnipeg Free Press, published by Thomson Gale on July 6, 2007. The length of the article is 624 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.Citation DetailsTitle: Teetering o… |
