Quote:
Originally Posted by Strange Brew
Smith was still willing to pay $1.2 billion no matter what you call it. The NHL owners are foregoing $1 billion to extricate themselves from Meruelo.
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They are forgoing it for now - Meruelo has to pay them $1bn to get his new franchise within 5 years. He doesn't just come back for free.
If he does what we all expect and he can't get it together, then he walks away with the money (whatever's left after he pays off debts). The NHL is no further behind (or I guess up $200m), and Ryan Smith is out $1.2bn.