Take your pick... depending on your appraisal and appraiser...((HT: Toronto Star/Woolsey))
While continuing to argue that Balsillie's ((pictured, thanks Arizona Republic file)) claim to the Coyotes lacks any merit and that it wants to keep the team in Phoenix, the NHL finally has also set a sky-high pricetag on any transfer of the bankrupt franchise - ranging from $101 million to $195 million (all figures U.S.).
Those figures are contained in the latest league filings to an Arizona bankruptcy court that is considering three bids for the Coyotes, including one from the league valued at $140 and another from BlackBerry baron Balsillie worth $212.5 million.
A week ago, Balsillie's PSE Sports and Entertainment filed a study conducted by eminent American economist Dr. Andrew Zimbalist that concluded a reasonable transfer fee would be $11.2 million to $12.9 million. Of that fee, a portion might be given as compensation to the Toronto Maple Leafs, suggested Zimbalist, who contended that the Leafs are not entitled to any direct indemnification.
The NHL had two appraisals done: Barrett Sports Group came up with the $101 million figure while Sports Value Consulting arrived at $195 million.
The NHL filing said "the methodology used by PSE's expert, Dr. Andrew Zimbalist, in calculating a relocation fee range of $11.2 million to $12.9 million does not pass muster" and adds, "the notion that a team in Hamilton would be worth only $11.2 million to $12.9 million more than a team in Phoenix is patently absurd."
Meanwhile, the league continued to assert its stance that the Leafs do not own a veto over the arrival of another team in their territory.
The league reiterated that it has the sole right to decide upon franchise transfers. "The commissioner has made clear, both before and during this matter, that he interprets the NHL constitution as requiring only a majority vote for all relocations, including any potential relocation to Southern Ontario."
Kevin McGran of the Star has comments from the Moyes family ((or the Moyeses...???)) saying the NHL needs to add $80-million to the deal...
"The NHL should step up to the bar. ... All it has to do is propose a bid that is better for all of the estates' creditors than the one proposed by PSE. It really is that simple."
Jerry Moyes and his wife, Vickie, would receive no money if the NHL from the sale of the team that will be auctioned this Thursday and Friday if the NHL prevails.
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