
The Coyotes situation has exploded again and I’ve decided to weigh in simply because I wanted to post this sweet cartoon a die-hard Yotes fan sent me! So, rumour around the proverbial water cooler is that Balsillie’s $212.5M bid to purchase the Phoenix Coyotes will now be considered at the team’s auction on September 10th along with other bidders both for and against relocation.
OK, for the purpose of this entry, let’s assume that Balsillie’s bid is accepted, and that his legal team is able to override the NHL’s recent vote against his suitability as an owner on the grounds that they have approved of him as such back in 2006. Let’s assume that a suitable owner cannot be found to both appease creditors and keep the team in Arizona. Let’s assume that relocation to Hamilton is the probable outcome of the Coyotes’ saga. Suddenly, $212.5M looks like chump change.
Earlier on in the court drama that is the future of the desert dogs, Bettman made a public statement that Balsillie’s bid is not as much as it seems. Well, he’s right. What do you think would happen if a billionaire business mogul waltzed into the Air Canada Centre and announced that he was buying the Toronto Maple Leafs for *Dr. Evil voice,* ”Two hundred and twelve MIIIIIIIIILLION dollars mwahahhahaha!!” Well, after MLSE staff and executives regained their composure from guaranteed hysterical laughter, the likely outcome would involve Richard Peddie grabbing his trusted two barrel shotgun and yelling, “Git outta maaaa office!”
The Toronto Maple Leafs are the money makers of the National Hockey League. It is suggested that an NHL club located thirty minutes west of the ACC would pull in similar financial figures, which means that the Hamilton Coyotes have the potential to clear between $400M and $600M a season. A team with that kind of value will not go for a steal – and $212.5M is a blow out sale!
If relocation is a real possibility, then potential buyers willing to move the team to the open arms of Copps Coliseum will have to view the price of the Coyotes as a team with southern Ontario value instead of small scale sunbelt earning potential. Likely this fact will bring previously uninterested buyer groups out of the woodwork, and an all out bidding war will ensue on September 10th. Fortunately, for Jim Balsillie, if anyone is in the position to up the ante, it’s him. However, Balsillie didn’t get nauseatingly rich by investing in projects he was unsure of. He has already proven in the past that he doesn’t want to get locked into a possible money losing venture. According to the Canadian TV show, Power Play (a show revolving around the dealings of a mock NHL team, the Hamilton Steelheads), Hamilton is a small hockey market. Not sure what the writers of that show were on, but perhaps, as history suggests, Jim Balsillie will be cautious about raising his bid should it come to that.
Here’s to what promises to be an entertaining September.




