Nashville is a failed franchise although it had success on the ice. Ten years ago current owner Craig Leipold paid $80 million for a expansion franchise and today it's like worth only about $100 million. So when Jim Balsillie offered $238 million for the franchise, you would think the other owners and Gary Bettman would be falling over each other to approve the sale. That price only increases the value of the other franchises. And that price only makes sense if the team is moved in a strong hockey market.However, Balsillie's plan to transfer the franchise to Southern Ontario is contrary to Bettman's vision for the NHL. He wants to see hockey as a major sport in the U.S. with a big television contract. So instead Balsillie is treated as an unwanted predator (excuse the pun) and the sale appears to be in limbo. In fact Bettman used quite strong language in regards to Balsillie and suggested that he had lied to him and Leipold. Meanwhile Leipold is dumping high salaried players to reduce his operating losses which isn't exactly going to improve attendance.
Balsillie is likely going to wait and see what the NHL governors want to do about his offer to purchase a team. Bettman has now painted himself in a corner because their are no longer any other suitors for Nashville. Certainly not at that price.
