RIM CEO Makes US$212 Mill. Offer To Relocate Phoenix Coyotes To Southern Ontario

[doniceage]

It's been denied by the mayor of Vaughan, greeted with skepticism by Leaf fans and treated with derision by the league.

But is there still a glimmer of hope that the GTA could finally be getting another NHL team?

That appears to be at least a little more likely, after RIM CEO Jim Balsillie offered to buy the struggling Phoenix Coyotes on Tuesday.

The offer is worth about US$212.5 million and comes with a huge string attached - any purchase is contingent on the club relocating to a still unnamed location in southern Ontario.

http://www.citynews.ca/news/news_34324.aspx

[RGM81]

Make it 7!

Of course, if Southern Ontario gets an NHL team, Toronto will want one too.

[sholi2000]

Make it 7!

Of course, if Southern Ontario gets an NHL team, Toronto will want one too.

haha!

Buttman will do everything in his power to not have the team move to Canada.

I'd welcome another team in Ontario, Winnipeg would be great but that shipped sailed with the building of the 15,000 seat MTS center.

[Glenn]

...Winnipeg would be great but that shipped sailed with the building of the 15,000 seat MTS center.

Despite that, I doubt Winnipeg could support a team -- it couldn't before.

It looks like Hamilton may well get its team, though. Although on CBC, they were mentioning something about an idea with Gretzky getting 10% equity, putting the team in Kitchener, and building an arena named after Gretzky's dad, which would be interesting, although it is speculative.

The thing is, Phoenix obviously can't support the Coyotes. The idea of Phoenix as a venue was totally asinine in the first place, and if Buttman wanted to say something about this whole situation, that would have been the time for him to protest.

No matter where the team goes, the NHL will still make money on the fact that the Phoenix Coyotes did exist -- the market is huge regarding souvenirs of defunct teams...

[Dergula]

haha!

Buttman will do everything in his power to not have the team move to Canada.

I'd welcome another team in Ontario, Winnipeg would be great but that shipped sailed with the building of the 15,000 seat MTS center.

Winnipeg could and should be able to with the NEW NHL. Remember there was no cap back in the day and small time teams had no chance of competing against the rich. LEVEL Playing field now!!

[RGM81]

It is level only to the extent that teams that make a lot more money than teams that have much smaller revenues can't exploit the fact by having $80M payrolls anymore. Winnipeg's MTS Centre holds 15,000 people. Even if they sold out every game and had full corporate sponsorship (the latter unlikely in this economic climate) their revenues would still be a fraction of what the other 6 Canadian teams make. Compare:
GM Place: 18,630
Saddledome: 19,289
Rexall Place: 16,839
Scotiabank Place: 19,153
Air Canada Centre: 18,819
Bell Centre: 21,273

The Habs take in something like $2.5M every single game. Winnipeg would neither be able to match the ticket prices of Montreal and only be able to seat 60% of Montreal's number at full capacity. As much as I would love a team back in the 'Peg, it isn't economically viable, salary cap or no.

[30ranfordfan]

RGM is right......

Even if Winnipeg were to build a new area (like Kitchener would have to, or Hamilton would need massive renovations to do) so they could hold 19,000+ seats.... maybe I'm out to lunch on this, but I don't see the corperate support being there.

There isn't enough people to buy $50,000 boxes, or $200-a-game season tickets. I have no doubt they could fill a 19k seat arena, but is there enough big business there to make it work on the corperate level?

[Glenn]

From what I hear, Jim Balsillie has tons of money -- the CBC referred to what he's paying as "pocket change for him".

Given that he is making money hand over fist from inventing the Blackberry, what would he have to lose by investing in a hockey team, even if it lost money? Think of the write-off against the profits he is making elsewhere -- accounting-wise, it seems to make sense.

Hey, stranger things have happened...

[Nashrules]

It's the smart thing to do, so why is the NHL so against it? It's about the stubborness of the commisioner.

[07mears07]

I'd say anywhere in Canada is better then Phoenix, lets just hope it isn't too close to any other markets. I.E. Detroit, Toronto, Montreal..