FUCK YES!
http://tsn.ca/nhl/story/?id=277664
BALSILLIE PUTS IN OFFER ON COYOTES
Jim Balsillie has put in an offer on the Phoenix Coyotes.
According to a media release, the Blackberry billionaire's offer of $212.5 million (US) for the team is conditional on the franchise relocating to Southern Ontario.
"The current team ownership asked that I table an offer to purchase the Coyotes and significant discussions resulted in an offer that is in the best interests of the franchise, the NHL, and the great hockey fans of Canada and Southern Ontario," Balsillie said in the release.
"I am excited to move closer to bringing an NHL franchise to what I believe is one of the best un-served hockey markets in the world, Southern Ontario. A market with devoted hockey fans, a rich hockey history, a growing and diversified economy and a population of more than 7 million people," he said.
The release also says, Balsillie agreed to post debtor-in-possession financing of $17 million (US) at the request of the Coyotes franchise. The money will keep the franchise going before the sale is completed.
This is far from the first time that Balsillie has attempted to move an existing franchise to the Golden Horshoe.
In 2007 Balsillie attempted to purchase the Nashville Predators in an effort to re-locate the team to Hamilton, and even gave fans the opportunity to put a down payment on season tickets. The deal fell through leading to speculation that the league was not interested in Balsillie attempting to move a team before he actually owned them.
These new details come on the heels of a series of confusing reports last week that the NHL was in charge of the Coyotes, a report Coyotes president Doug Moss refuted. The league did not release a comment.
The Arizona Republic reported that the Coyotes filed for Chapter 11 bankruptcy protection on Tuesday. Coyotes' CEO Jerry Moyes stated that they have done everything they can to try and keep the team in Arizona.
"Extensive efforts have been undertaken to sell the team, or attract additional investors, who would keep the team in Glendale," Moyes told the Republic.
In addition there seems to be a growing sentiment of bringing a second team to the Southern, Ontario region, recently deputy commissioner Bill Daly met with a group who are attempting to bring a second team to the Greater Toronto area. According to a release by the NHL following that meeting, that is not on the league's agenda.
"There is no consideration of bringing a second franchise to Toronto. We have no intention to expand in the foreseeable future, and there is no desire to relocate any of our existing franchises."
If Balsillie is successful in bringing the Coyotes to Canada it would mean that the franchise has come nearly full circle after the team was forced to relocate to the desert from Winnipeg in 1996.
