Results tagged “jimbalsillie”

According to the Associated Press, Jim Balsillie—the billionaire founder of Research In Motion, who has spent the last month and a half in a fervent campaign to get the Phoenix Coyotes relocated to Hamilton—has had his bid to buy and move the team rejected. The Globe names the judge in the bankruptcy case as a Mr. "Redfield T. Baum," who we imagine has a large mustache, which he is likely twirling the edges of between his fingertips at this moment.

Amid rabid speculation that the Phoenix Coyotes face an insurmountable debt load, the team filed for Chapter 11 bankruptcy protection earlier today. Following the announcement, Research in Motion co-CEO Jim Balsillie put in a US$212 million offer to buy the team, under the condition that it is relocated to Southern Ontario. (His previous bids for the Nashville Predators and the Pittsburgh Penguins were unsuccessful.) Chatter of moving or creating a team here has re-ignited in recent weeks, but the NHL refused to confirm any of the speculation until today. The Globe and Mail is reporting that the NHL's management, which has an acrimonious relationship with Balsillie, plans to fight the offer, but Balsillie hopes to avoid this battle (which hurt his previous bids) by building grassroots support for the team—he's encouraging all fans of the proposal to visit www.makeitseven.ca in order to voice their support.