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Seller Beware
by Paul on 11/24/09 at 11:25 AM ET
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from Mike Ozanian of Forbes,
If the NHL posted classified ads, their current listing could very well read:
For Sale: Phoenix Coyotes. Owners with deep pockets needed. Must build hockey business and not focus on side deals like real estate. Good management team with a history of turning a profit in professional sports preferred. Price negotiable (Forbes values team at $138 million).
None of these characteristics apply to David Cynamon and Howard Sokolowski, the owners of the Canadian Football League’s Toronto Argonauts, who met with City of Glendale officials earlier this month to discuss a potential bid for the Coyotes. The meeting came after NHL Commissioner Gary Bettman singled out the pair as potential owners in an affidavit filed in federal bankruptcy court in June. But the NHL should be careful since these owners seem to stack up an awful lot like the old ones.
Filed in: NHL Talk, NHL Business of Hockey | KK Hockey | Permalink
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Gary Bettman’s list of qualifications for potential owners is two items long:
1. Someone who wants to buy the Coyotes
2. Who is not Jim Balsillie.
That lets out almost everybody on the planet. Gary can’t be too picky, given the corner he’s painted himself into.
Posted by jvwalt on 11/24/09 at 12:06 PM ET