Things suddenly looking positive for the Coyotes; apparently Jamieson has his investors.
He claims to have the additional $20M needed to buy the team but it also says he still needs to find the capital to run it. In addition, there is a court hearing on the 24th by a higher court to look at the petition that was rejected by the lower courts. The Goldwater group is still a threat to sue as well.
Scraping together the cash to buy a money-losing hockey franchise, is a recipe for disaster. They will be a budget team barely making the cap floor and the product on the ice will reflect that. That leads to fewer fans and more losses and eventually, the break-up of the investment group.
The NHL is showing very poor business judgement in allowing this mistake to carry on. There's a philosophy in golf...don't let one bad shot cost you more than one stroke. The NHL hit the ball deep into the woods in going to Phoenix in the first place, tried to hit a 350 yard recovery shot through dense forest that resulted in the ball bouncing further into the trees. They'd be better to just take an unplayable lie and accept their loss.
Edited by DIBdaQUIB, 08 August 2012 - 06:29 PM.