Balsillie has deal for Hamilton arena
Last Updated: Thursday, May 31, 2007 | 1:41 PM ET
CBC Sports
The Nashville Predators could be one step closer to relocating to Hamilton, Ont.
Jim Balsillie, a billionaire in Waterloo, Ont., who last week signed a letter of intent to buy the Nashville Predators, has reactivated a deal that gives him exclusive rights to negotiate a lease option for housing an NHL team at Hamilton's Copps Coliseum.
Jim Balsillie has a deal to buy the Nashville Predators for $220 million US.Jim Balsillie has a deal to buy the Nashville Predators for $220 million US.
(Carolyn Kaster/Canadian Press)
Balsillie had a similar agreement with the city last year for a lease option on the 19,000-seat downtown arena, but allowed it to lapse as his bid to purchase the Pittsburgh Penguins fell through.
"(Balsillie) has assured me that he wants to secure a team and he is interested in bringing it to Hamilton," Mayor Fred Eisenberger told the Hamilton Spectator on Wednesday night after city council approved the deal. "Certainly he has the resources to do it and we will leave it up to him to pull it together."
Last week, Balsillie, co-CEO of BlackBerry-maker Research in Motion Ltd., entered into a letter of agreement with Predators owner Craig Leipold to buy the financially struggling NHL franchise for $220 million US.
The sale must be closed by June 30. Approval before that date from the league's board of governors would be required.
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Last December, Balsillie withdrew his $175-million US offer to purchase the Penguins after it was rejected by owner Mario Lemieux for a higher offer.
Despite claims by Lemieux that the team was off the market, Balsillie made a last-ditch effort to buy the Penguins, but to no avail.
Speculation had swirled that Balsillie wanted to move the Penguins to Hamilton, which is close to his home and the RIM head office in the Kitchener-Waterloo area.
Balsillie had indicated his plans were to keep the team in Pittsburgh.
2007-05-31 15:22:14 · 17 answers · asked by one_man_gang2010 3 in Sports ➔ Hockey
all of you not familiar with Ballsille...he's a snake oil salesman to wallstreet just as Bettman is to hockey.They are two of the same kind so don't be surprised if the move happens next season.Cripes...3 teams in Ontario.
2007-05-31 15:45:45 · update #1
I saw this on the tube earlier. Does this make Bettman a liar?
2007-05-31 15:26:56 · answer #1 · answered by Bob Loblaw 7 · 2⤊ 1⤋
I think this would be a good thing for Nashville to move to Hamliton, although it can't happen for a couple years because of NHL rules. Nashville needs a change, they need to go to a place where hockey is actually appreciated and there seats will be sold out every night.
On the other hand, Hamilton? Really??? I have a hard time believing that the city of Hamilton will appreciate having an NHL team residing there. There are too many problems there right now as it is with land contracts between the city and the natives. The last thing the city needs is a bunch more people moving there taking the land and crowding the little space they have left to move around. I just do not think it would be possible for the city to hold the capacity of people that an NHL team brings with it.
2007-06-01 01:02:41 · answer #2 · answered by Anonymous · 2⤊ 0⤋
The Preds lost $15 million this past season and $12 million the season before.
They were one of the elite teams in the league this season and one of the lowest-revenue teams in the league. The Predators finished third in the league standings this season with a franchise-record 110 points but averaged 13,815 in paid attendance.
Hamilton will have no problem selling out their building in a Hockey starved market. Maple Leafs season ticket application waiting period stretches to 35+ years. For those that don't know... Hamilton is as close as Los Angeles is to Anaheim.
The Leafs or Sabres will NOT lose money with a team in Hamilton... therefore the league will grant the location after a board panel review... if a relocation is to take place.
Hamilton was already ripped off once in 1990 when the NHL awarded a franchise to Ottawa instead of Hamilton. Hamilton was a more qualified city, met more requirements and had a more suited arena but Bettman's plan was to expand territory...
RE: PuckDat
Glad to hear from someone with some history of the NHL and Hamilton... *thumbs up*
RE: Towelieban Barbie
Winnipeg MTS Centre - Hockey Capacity: 15,003
http://www.mtscentre.ca/arena/index.php
Hamilton Copps Coliseum - Hockey Capacity: 19,000+
http://www.hecfi.on.ca/coppscoliseum
******************************
2007-05-31 16:41:10 · answer #3 · answered by Virus Type V 5 · 3⤊ 0⤋
frankly, i align w/ the Puck Dat, sushi_squad, and now ... Marylou group. it doesn't matter who the owner is NEARLY as much as it matters what fan base the team will have. a Hamilton team will be VERY successful. the fan base is hungry for another team. and Nashville has the ingredients to be a winner. it's a very good fit. i think that the universe will be more aligned and in tune, if you will, if this happens. It will be good to see the team go to a place where it will be appreciated. (i know, 13,000 people in the Nashville area appreciate them. however, many MORE will appreciate them in the Hamilton area, and will take care of the team.) and i'm glad that a team is going FROM the U.S. and TO Canada. i think it was getting just a tad bit unbalanced. frankly, i hope that at least a third of the NHL teams (total of 10) would be Canadian. but that's a very general statement. and probably wishful thinking. at least for awhile. especially until Bettman leaves.
2007-06-01 04:43:10 · answer #4 · answered by you 6 · 2⤊ 0⤋
What's the big deal? The freaking league screwed Hamilton out of a team once after they were the only expansion bid to fulfill all of the leagues demands. There are 3 teams in the NYC area. There are 3 teams in California where less than 5% of the people bother with the game.
No, this team SHOULD move to Ontario. It will do well. There are 8 miilion hockey fans who can't get Leaf or Sens tickets here.
Why can't a man who pays $220 million for a team choose where he wants it to be? That's $75 million more than it's worth.
2007-05-31 15:55:23 · answer #5 · answered by PuckDat 7 · 5⤊ 1⤋
Yeah, that's huge. I don't know why Hamilton from a business standpoint though. I read in a newspaper today that the Leafs and Sabres have a 50-mile territorial radius and that any professional hockey team must pay either or both teams royalties or some crap like that. I know Balsillie wants a team close to his hometown of Kitchener-Waterloo, but he must not mix business with pleasure.
On a way tangent note, if anyone is planning on going to the Kitchener-Waterloo area, you MUST go to Morty's, right by Sir Wilfred Lauier University. Their wings are the size of a 5'1" person's hand, and the suicide sauce is to die for (if you're into that sort of thing). After three wings, I couldn't feel my lips. lol
2007-05-31 15:47:42 · answer #6 · answered by Anonymous · 4⤊ 0⤋
As a person who works for the Pens, there was no higher offer. The team went off the market after Balsillie withdrew and he did this because he could NOT move the Pens. Now since Nashville does not sell out then I see them gone from that city soon.
2007-05-31 15:52:05 · answer #7 · answered by hockeyraven1311 2 · 2⤊ 0⤋
I think its fine if they move to hamilton but what would happen to the league they will have 16 teams in the east and 14 teams in the west then who moves to the west if the Preds move to Hamilton So will the NHL let them move to Hamilton I dont know and i dont think so either but we will have to wait and see
2007-06-01 05:12:33 · answer #8 · answered by rac531 4 · 0⤊ 0⤋
Balsillie would be better off buying the Leafs away from MLSE. If he is that committed to hockey, he could take that pile of dung they call a hockey team away from MLSE and hopefully make it the team it used to be in the 60's and 70's. Nashville would do well if it stopped hitching its wagon to every redneck in Tenn.
2007-05-31 20:24:38 · answer #9 · answered by mules642001 2 · 0⤊ 1⤋
We want our JETS back. And have the MTS CENTRE in Winnipeg.
BTW Hamilton will never fly at a Board of Governors meeting.
2007-05-31 17:08:55 · answer #10 · answered by great gig in the sky 7 · 0⤊ 0⤋
NHL rules state that Balsillie CANNOT MOVE a team within 7 years of gaining ownership.
I don't think much of him anyways. he's a total jerk. (thank god he didn't get the Penguins. I would have DIED.)
2007-05-31 17:21:29 · answer #11 · answered by Anonymous · 0⤊ 0⤋