The NHL's other bankruptcy case

by James Mirtle on Aug 14, 2009 10:07 AM CDT Comment 7 comments

More photos » by Frederick Breedon - AP

Meanwhile, Del Biaggio's bankruptcy case continues to move slowly. The California-based trustee, R. Todd Neilson, said he is taking his time deciding how to sell Del Biaggio's shares in the Predators. The remaining owners have made a bid.

"We're wishing the team well and the fans well," Neilson said. "We haven't arrived at any decision."

Neilson declined to say what Del Biaggio's stake in the Predators is worth or how many bids it has drawn.

— The Tennessean

What happens with the auction of a big chunk of the Predators (about 32 per cent, I believe) bears watching this summer as well. While the local owners are attempting to buy Boots's share, there's a chance someone else will purchase it at a higher price.

More on the Nashville front for next week.

This is it for me for the weekend; please feel free to join all of the great discussions in other threads below. Here are some notable links to read in terms of Coyotes-related news:

"At no time has the Toronto franchise or any representative of the Toronto franchise voiced an opinion at a Board of Governors Meeting even remotely consistent with the allegation that is being made," NHL deputy commissioner Billy Daly wrote in an e-mail to the National Post Thursday. "In other words, its a total fabrication, that has no basis in fact or in law." [Mike Traikos, National Post]
Jim Balsillie's camp won't be able to question Richard Peddie, but they will get their hands on NHL documents related to relocation that the league was against providing. [The Associated Press]
"...if the NHL continues to insist that part of Balsillie's rejection was on a doesn't-play-well-with-others basis, his lawyers will certainly question why the league supports a bid from Reinsdorf who, as Chicago Bulls owner sued his own league in 1990 over TV rights, costing the NBA $10 million in legal fees, and who was cited by an independent arbitrator as a central figure in the owners' collusion case of 1985-86 which cost Major League Baseball $280 million in fines and reparations." [Steve Milton, Hamilton Spectator]
Jerry Bruckheimer still likes hockey. And Vegas. We're not sure on the two together. [The Canadian Press]

Have a good weekend.

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Comments

One thing I wonder is whether or not the NHL’s insistence in multiple bankruptcies on advocating inferior bids for parts of teams is getting noticed by potential creditors everywhere else. I would think that all of this would make financing more expensive for any team on the margins. The Maple Leafs and the Red Wings won’t have any trouble over it, but the Thrashers of the world might.

by J. Michael Neal on Aug 14, 2009 10:45 AM CDT reply actions 0 recs

one thing about the 'Yotes case is for sure:

You’re doing one hell of a job covering this, James.

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by wuffy on Aug 14, 2009 10:50 AM CDT reply actions 0 recs

Any word on the other NHL franchises in turmoil financially:
Atlanta, Florida, TB?

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sometimes I find it's better to be somebody else

by Fauxrumors on Aug 14, 2009 11:30 AM CDT reply actions 0 recs

The only championship shirt for the predators

even If they come out of the bankruptcy strong and can stay in nashville, It’s going to be awhile before they can go far int he playoffs. In the meantime, they might as well sport a shirt like this (http://www.annarbortshirtcompany.com/store/product/ministickchamp) in the locker room to keep morale high

by Rocket Richard on Aug 14, 2009 2:29 PM CDT reply actions 0 recs