Quote:
Originally Posted by Vulcan
The NHL wasn't the seller, they were one of two competing bidders. The judge was representing the sellers or creditors. That the NHL had bylaws in place swung the decision in their favour.
That the NHL didn't like Balsillie's offer doesn't mean it wasn't a good offer.
Just from the CoGs position, they would have gotten $50M from Balsillie, instead they are now out $50M for a $100M difference.
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If I remember rightly the NHL was also argueing that it was the owner as the franchise rules automatically defaulted the team to the league in the event of a bankruptcy. I stand to be corrected on this but I think they were arguing that the team wasn't legally in bankruptcy