Judge Redfield Baum Giving NHL Commissioner Gary Bettman the One-Finger Salute?

Judge Redfield T. Baum, I love you man! Sorry...did that come off a little, for the lack of a better word, feminine?

Late Wednesday night, news broke that U.S. Bankruptcy Court Judge Redfield T. Baum had ruled that all bids for the cash-strapped Phoenix Coyotes would be accepted.

The ruling comes without strings, we are talking all offers, those wanting to keep the Coyotes in the desert and those wanting to move the Coyotes to Hamilton or anywhere else they see fit would be accepted for the Sept. 10 auction.

Well folks, that means the showdown between NHL commissioner Gary Bettman and Research In Motion Billionaire Jim Balsillie is on!

This story is shaping up to be a beauty!

Clearly, Balsillie has the financial wherewithal to pull off the deal. His $212 million offer still stands as the biggest offer the Phoenix Coyotes creditors have received to date, which seems to be a huge factor in Baum’s latest stand.

Several creditors, including computer giant Dell investment company SOF, which is owed $80 Million, have made it very clear that they would oppose any deal that would shortchange them and wish to recover every penny possible. It would seem as if the Balsillie bid allows Dell and others to recuperate most of their funds, which should be a priority here.

Sure, it’s easy for Bettman to refuse Jim Balsillie’s bid, it’s not his money! I am sure if the shoe was on the other foot and Bettman was trying to recover his personal funds he’d be a little more apt to approve Mr. Balsillie’s bid.

It is expected that Balsillie’s bid will be the clear winner once the Sept. 10 deadline rolls around.

The bid led by Chicago White Sox/Chicago Bulls owner Jerry Reinsdorf was for a paltry $148 million and another offer from a group known as “Ice Edge” came in at around $150 million. Assuming the two groups do not re-up their offers Balsillie’s will be the eventual winner.

Last week, the NHL Board of Governors unanimously rejected Balsillie as an NHL owner citing questionable character and integrity.

The ruling was ridiculous and exposed the NHL, its owners, and Bettman’s shortsightedness and stubborn inability to acknowledge Balsillie as a possible asset rather than the demon the NHL has made him out to be.

For his part, in a statement released late Wednesday night, NHL deputy Commissioner Bill Daly said of the situation, "We  remain confident that Mr. Balsillie's bid for the team will never be approved by the court for a variety of reasons, including that his application for ownership was overwhelmingly rejected by the NHL board of governors last week".

Well, Mr. Daly, I got news for you. If the court accepts the Balsillie bid as the winner you have quite a pickle on your hands! Good luck messing with a court ordered decision!

On the other side of the coin, Balsillie and his camp seem confident that they will emerge as the victors. Balsillie spokesman Bill Walker praised the judge for creating a "fair and transparent" sales process.

Walker further stated, "It's the best outcome for creditors and for the future of the franchise," Walker said. "We think Jim Balsillie's bid will emerge the winner because it offers the best financial terms and the best market in Hamilton, where hockey fans are thirsting for this team."

Even if Balsillie does emerge as the victor it is expected that the NHL will file a grievance with the court and tie the matter up in red tape, possibly for months.

Another obstacle facing Balsillie is getting permission from the NHL to move the team to Hamilton, which will likely be tough.

This situation just got juicy. From my perspective, I am thrilled that someone is standing up to the NHL and it’s cronies. The NHL and its ownership process has long been viewed as flawed.

From my view, the NHL and Bettman, are a bunch of secret-handshaking, pompous idiots whose questionable past dealings have cost the NHL millions of dollars and hurt its reputation.

It’s about time someone, namely Balsillie and Judge Baum, stood up to the NHL. What’s right is right; it’s foolish to think the Coyotes can be financially viable in Phoenix and, with creditors grasping for money, the Balsillie bid is the best offer on the table and offers the best outcome for everyone involved.

Make It Seven Mr. Balsillie. I, for one, am 150 percent behind you. Best of luck!

Until next time, peace!