Board approves Reinsdorf Coyote bid, rejects Balsillie

July 29, 2009   ·   Derek Felix   ·   Jump to comments

The NHL Board of Governors approved a bid by Bulls/White Sox owner Jerry Reinsdorf to buy the Phoenix Coyotes earlier today. He was one of just three applicants to receive approval.

Reinsdorf’s $148 million bid would keep the struggling franchise in the Desert. Despite what league commissioner Gary Bettman stated, that had to be a significant factor in accepting the offer while unanimously rejecting Canadian billionaire Jim Balsillie’s higher bid of $212.5 million, intent on relocating the Coyotes to Hamilton.

Aside from Balsillie’s insincerity which went against league policy, Bettman made this blunt assessment of the proceedings:

“The criteria set forth in the (NHL) constitution and bylaws relates to financial wherewithal, character, integrity and the view whether or not the other owners would deem you a good partner.“

Character and integrity are definitely lacking for Mr. Balsillie. No wonder he received not one vote out of 30 by the Board with the commish taking the high road. Perhaps if he wasn’t so forthright about his desire to bring a franchise to Canada, maybe he’d own one. There’s such a  thing as loyalty. A foreign concept for the man who thinks his deep pockets are an entitlement to do whatever he wants.

I believe Bettman has learned from what transpired last decade when Peter Karmanos assumed ownership of Hartford in a shady deal forcing his way out to Carolina. Recalling many a chat with a close friend who lived in Connecticut and rooted for the Whalers, the way it came about was hardly fair. Here’s a little brief recap.

As for the current situation where the Coyotes have lost money every season since relocating from Winnipeg including a rumored $60 million this past season, who knows if they can survive. I remember someone from the area telling me how they messed up putting the new arena in Glendale when Scottsdale would’ve been an easier location to get to. That probably doesn’t help. Hopefully, with some stability, things will turn around for the ‘Yotes.

As far as Reinsdorf getting approval, I think Bettman summed it up quite well.

“But I think based on Mr. Reinsdorf’s experience and reputation as an owner of two very successful franchises in other sports leagues, it’s no surprise that his application would be endorsed.”

So, there you have it. A proven owner who comes off as sincere unlike an ignorant fool. It was a no-brainer.