from Amazon
Wednesday, August 26, 2009
The Montreal Expos of the NHL
Stop me if you heard this one already:
1 - League wants to sell team to local ownership
2 - No local owners want it, so the league buys the team at “local” market prices
3 - The league, in complete control of relocation, approves its own relocation to a hungry market
4 - The league sells the team at “local” market prices, earning a huge profit
The NHL, with the Phoenix Coyotes are at step 1. They have submitted an offer to buy the team at Step 2. Presumably, they will move the Coyotes to a better location in the next 1-2 years. At which point, they will find a hungry buyer and turn a nice tidy profit. Basically, they “expand” into a better market, and the league, not the team owner, profits from it.
In the middle of this is Blackberry CEO Jim Ballsillie, who sees a hungry market in Hamilton (between Toronto and Buffalo). The NHL, of course, wants to subject that market to an expansion bid (or have no team at all because they are scared of the Maple Leafs). Bankruptcy court, which is where all this is right now, however will decide on what the law is.
Recent comments
Older comments
Page 1 of 344 pages 1 2 3 > Last »Complete Archive – By Category
Complete Archive – By Date