The NHL may "put the brakes on" the Fox Group and other
companies "looking to buy large chunks of more than one
franchise by establishing a new bylaw that limits any one
party's ability to have operational influence in multiple
teams," according to Bernstein & Mullen of the
SPORTSBUSINESS JOURNAL. The new bylaw, which was drafted by
a committee which included reps from 17 of the 26 NHL clubs,
is scheduled to be voted on June 25, and NHL Senior VP/Legal
Affairs William Daly said that it will put "strict and
specific and precise" limits on multiple ownership as well
as business relationships between teams. Although Daly
would not reveal details, several teams execs said that it
"particularly addresses the issue of control," and puts
guidelines on the "role minority owners can have in a team's
operations." Fox, which serves as the league's TV partner
and possesses regional rights to more than a dozen NHL
teams, also owns almost 20% of the Rangers and has an option
to purchase 40% of the Kings, and is "at the epicenter" of
the debate. Kings President Tim Leiweke said that a new
bylaw "may affect how Fox proceeds with the purchase" of his
team. Leiweke: "They may decide not to exercise the option
with the Kings" (SPORTSBUSINESS JOURNAL, 6/8 issue).