Coyotes Still Marooned in Desert

[doniceage]

By JONATHAN MARINO

June 17, 2009

Arguing that maximizing creditors’ value was the primary concern, a bankruptcy court judge decided against allowing the Phoenix Coyotes to make the move to Ontario as part of the beleaguered ice hockey team’s next step toward economic viability.

The move is still one that supports corporate professional leagues over individual teams’ wishes; the Coyotes, now bankrupt, had struck a deal to sell to Jim Balsillie, co-founder of BlackBerry maker Research in Motion, a Toronto Stock Exchange-listed company, for a little more than $200 million.

The deal potentially presents not just a distressed asset but a powerful moneymaking tool for Balsillie, who wants to move the Coyotes to Ontario to capitalize on a fan base consisting of die-hard hockey fans and lacking any other winter sport, unlike most North American metropolitan areas.

http://www.mergersunleashed.com/news...-194510-1.html

[sholi2000]

I'm at the point now where I say, "let them rot in the desert".

If the BOG wants to bails this team out (32 million/year over the last 13 years) then let them.