The drama in Phoenix that began in May continues to surprise with the announcement that NHL surrogate, Jerry Reinsdorf, has withdrawn from the bidding for the Coyotes and has being replaced by bid by the NHL itself. Bettman’s boast that a number of parties were interested in purchasing the Coyotes has now proven to be fiction. Without another legitimate bidder, the court would likely have handed the team over to Jim Balsillie so the NHL has no choice but go head to head with Mr. Blackberry. It creates a bizarre situation where the NHL is bidding to own one of its franchises.
I have frequently suggested that the franchise was dead and could not possibly draw serious buyers who would be willing to keep the team in
- Take control of the team by winning the auction
- Operate the team out of
for the current season Phoenix
- Search for a new owner and location for the 2010-11 season
The eventual sale would have to produce enough revenue to reimburse owners for the money they will have put out to keep the franchise alive. Afterall, there are other teams under financial stress who could not possibly willing to lose money on