Wednesday, September 14, 2011

C'mon Down to Gary Bettman's Franchise Emporium

Deals, Deals, Deals, Gary's got em, you can have them!

It appears that the NHL is finding itself featured on the financial pages this September more frequently than the sports ones these days, what with teams entering bankruptcy protection, others seemingly teetering on the brink of that status and others just up on the block and kicking' some tires.

The latest name to pop up on the Financial 911 Rolodex, the New Jersey Devils, seemingly steeped in a nasty  little internal feud, one which it seems is about to move beyond the not talking to each other phase and into the more nasty atmosphere of discussing the financial parameters of all that angst.

The Devils appear on the radar as word spills out that the Dallas Stars will file for bankruptcy this week in a Delaware court, a move which actually improves their prospects, allowing as it will for Vancouver based businessman Tom Gaglarid to purchase the team, Gaglardi is apparently ready and willing to part with 230 million or so dollars for the privilege of joining the lodge.

That is unless Mark Cuban decides to wade into the NHL pool and put in a counter offer, a move which would solidify his hold on the United Centre of which he currently is only a 50 percent owner (no word on what he might want to do with that other tenant, the one with the funny shoes with blades on them, featuring guys that carry sticks)

The list of properties available at Gary Bettman's Franchise Emporium shows listings that could soon be down one, the Commissioner anxious to post up the old SOLD sign on the St. Louis Blues.

It's said that the Blues may have a deal in place for Board approval by the end of the month.

Good news indeed we imagine for the listing agents at Gary Bettman's Franchise Emporium .

The tally board of troubled franchises looks something like this

Dallas Stars
St. Louis Blues
New Jersey Devils

Hmm, we forget anyone, oh yes, every one's favourite NHL orphan

Phoenix Coyotes  

and of course there is the matter of the New York Islanders looking for a home

The nature of the US economy these days probably doesn't bode well for any other franchises currently teetering on the brink, no doubt a worrisome thought for the Commissioner and his sales agents.

Quebec and Hamilton might want to put a few bucks aside, formerly dismissed locales may soon become much desired investors.

Good deals available always, so c'mon down to Gary Bettman's Franchise Emporium.
Six miles east of the Interstate right, Bill... Right Gary...

Globe and Mail-- Another week, another ownership crisis
Wall Street Journal-- Devils, Stars Could Skate in Bankruptcy Together
Businessweek-- Dallas Stars Lenders Said to Vote for Bankruptcy Court Auction
ESPN-- Stars sale still expected to move into courts this week
Forbes-- Gaglardi Step Closer to Getting Dallas Stars for $230 Million
St, Louis Today-- New group interested in buying Blues, source says
Fox Sports-- Owners of cash-strapped Devils reach deal
Globe and Mail-- Devils have time to get financial house in order
National Post-- Devil's deny report of impending bankruptcy
Newark Star Ledger-- Devils insist team is not going bankrupt, despite report
New York Post-- Devils deal in the works
New York Daily News-- New Jersey Devils strongly deny report in New York Post of organization being near bankruptcy
New York Daily News--  A Devil-ish mistake: Team not for sale
Montreal Gazette-- More tales of woe in NHL
Vancouver Province-- The New Jersey Devils Are "Blowing Up"
Toronto Star-- Unfinished business dogs NHL

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