NHL BOG Accepts Reinsdorf's Coyotes Bid, Rejects Balsillie

NHL Unanimously Approves Reinsdorf Bid For Coyotes

GAME OVER? Daly in an e-mail noted that the BOG rejected Balsillie's bid "under bylaw 35 of the league's constitution," which states that the NHL can "reject potential owners if it does not believe they are of 'good character and integrity,' as well as for financial reasons." Daly declined to offer more specifics. The GLOBE & MAIL's Shoalts & Waldie cite a source as saying that Bettman after the meeting called Balsillie to "tell him why the league was rejecting him as an owner." The source contends that Bettman "cited the way Balsillie 'had interacted with other member clubs.'" However, the NHL's "rejection of Balsillie as an owner may not stand up in bankruptcy court," and Walker indicated that a new version of Balsillie's $212.5M bid for the Coyotes "will be filed with the U.S. Bankruptcy Court in a few days." Baum in a June hearing told the NHL that "because it approved" Balsillie as owner when he tried to buy the Penguins in '06, it could "only reject Balsillie as an owner if there was a 'material change'" in PSE Sports & Entertainment, the company Balsillie formed to handle the bids. But Daly denied that Balsillie had been "approved as an owner in 2006." Daly in an e-mail said, "Beyond the fact that Mr. Balsillie was never approved by the Board of Governors in 2006, his entire interview today was spent answering questions on the things he has done since 2006 that call into question his bona fides to be an NHL owner" (GLOBE & MAIL, 7/30).

Balsillie Questioned By Daly About Withdrawing Pens Deal

PUT IT ON ICE: Research Edge LLC Managing Dir Daryl Jones, who serves as COO of Ice Edge's bid, said of the NHL BOG deeming the group's bid incomplete, "What they were saying is what we've been saying the entire time: we got into this too late for the process. I think what they're saying is they liked what they saw, they liked us, they liked and respected our backgrounds, but we're just further behind in the process than we should be." Jones added, "It's a really positive outcome, given all the work we've put in the last five weeks to get to this point." Jones indicated that the group "intends to put together a purchase agreement ahead" of the bankruptcy court's August 5 deadline for final applications to buy the Coyotes (CALGARY HERALD, 7/30). But SI.com's Alan Muir wrote Ice Edge "looks like another group of big dreamers with far too little capital." Muir: "I just don't see these guys being a legitimate option at this stage in the process" (SI.com, 7/28). In Phoenix, Jim Gintonio wrote Ice Edge's proposal to play some home games in Canada is, "plain and simple, an idiotic idea." Gintonio: "What a great way to alienate even more fans, especially season ticket holders. The bottom line is to bring more fans into the fold, not drive them away" (AZCENTRAL.com, 7/28).

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