The REAL reason Nic Cage sold his comics...?

[etanick]

I had 2 college buddies, both inherited $500k from their fathers' sudden death. Now back in 1985, that is a lot of money...it is a lot now

 

Both are the only child. Both dropped out of college immediately....last I heard, they squandered everything and flip burgers for a living with no college degrees. It is a damn shame. At least they are not dead overdozed on something.

[VintageComics]

I always though it would be cool to buy an NHL franchise. Only thing is though, sports franchises are good old boys club type deals. Usually you have to be approved by the other owners. It's why you don't see a lot of Mega Millions or Power Ball winners owning sports franchises. Usually you have to be a successful business person who has made tens of millions doing something in order to even get consideration.

 

I'd guess they just want to know that you're stable. I'm sure they don't give a rats asz where the money comes from as long as they have some comfort that you'll be able to sign the ongoing payroll checks and aren't, you know, some guy who won a lottery and will be broke in a month.

 

I'm sure if you won the lottery, invested the money wisely and had doubled it 10 years later, they would have no problem letting you in. Well... actually come to think of it, maybe not. Its a huge business and a question on their mind is probably whether or not you have any clue how to run a business.

 

My point though is that I don't think its a "good old boys club" type thing. They need and want good owners. Problem is if you have no experience running a huge organization are they just going to be looking for another owner later when your money tree dries up.

 

It's definitely a good ole boys club. Jim Balsille (owner of R.I.M.) obviously knows how to run a business, has the cash and we definitely have the rabid fan base to bring another hockey team into the surrounding Toronto area but they wont let him have the team.

 

It's better for the Coyotes to die a miserable death (cause obviously they're doing well over there) than to bring an NHL team into a town where they can sell out every night.

 

 

If I'm not mistaken this is the second hocky team JB has tried to purchase in the past couple of years. Both times shut down.

 

 

[hockey&comicsguy]

I'd guess they just want to know that you're stable. I'm sure they don't give a rats asz where the money comes from as long as they have some comfort that you'll be able to sign the ongoing payroll checks and aren't, you know, some guy who won a lottery and will be broke in a month.

 

I'm sure if you won the lottery, invested the money wisely and had doubled it 10 years later, they would have no problem letting you in. Well... actually come to think of it, maybe not. Its a huge business and a question on their mind is probably whether or not you have any clue how to run a business.

 

My point though is that I don't think its a "good old boys club" type thing. They need and want good owners. Problem is if you have no experience running a huge organization are they just going to be looking for another owner later when your money tree dries up.

 

 

Very true. Although we NHL fans have been suffering through the Jim Balsille saga for what feels like forever. He's a Canadian and CEO of the company that created the Blackberry I believe. Anyway, he's a billionaire and has tried to buy 3 NHL teams, all with no luck. His last attempt just ended in court. He tried to buy the Phoenix Coyotes, who's owner Jerry Moyes put into bankruptcy this year claiming losses of 30 million per season for 3 straight years. Anyway, the other owners didn't like Jimbo or how he went about his attempts so much so that they called him "untrustworthy", "lacking good character and integrity" and other not so nice things, publicly. In the end, Balsille offered somewhere close to 250 million to buy the Coyotes and move them back to Canada. The NHL brass and owners balked, went to court and the NHL ended up purchasing the Coyotes in the interim for about 140 million I think.

 

So even though he offered 100 million more for the team, which would appear to be better for any creditors, the NHL commissioner and a pack of owners "good old boys" literally blackballed this dude from owning a team. Mind you, this is a group of gentlemen calling Balisille "untrustworthy" that includes:

 

approving William Biaggio as an owner, who pleaded guilty for filing false documents to obtain $110 million to buy a team

 

Former Kings owner Bruce McNall who pleaded guilty to conspiracy and defrauding banks of over $200 million

 

Senators owner Eugene Melnyk who settled for violating the Canadian Securities Act

 

etc...

 

 

 

In the end, the NHL took control of one of its franchises, offering far less money to creditors simply to keep the Coyotes in Phoenix where they have not been profitable even 1 season since moving from Winnipeg 1996. I'm still baffled that a bankruptcy judge allowed the NHL to buy the team for 100 million less. I always thought a bankruptcy judge's job was to get the best deal for creditors?

 

There was a lot more a play here but it's still crazy to think that If a Harvard educated, successful businessman, billionaire can't buy a franchise, I gotta think some good old boys club shenanigans are afoot.

 

to all non hockey fans I apologize for this entirely boring, worthless commentary.

[hockey&comicsguy]

I always though it would be cool to buy an NHL franchise. Only thing is though, sports franchises are good old boys club type deals. Usually you have to be approved by the other owners. It's why you don't see a lot of Mega Millions or Power Ball winners owning sports franchises. Usually you have to be a successful business person who has made tens of millions doing something in order to even get consideration.

 

I'd guess they just want to know that you're stable. I'm sure they don't give a rats asz where the money comes from as long as they have some comfort that you'll be able to sign the ongoing payroll checks and aren't, you know, some guy who won a lottery and will be broke in a month.

 

I'm sure if you won the lottery, invested the money wisely and had doubled it 10 years later, they would have no problem letting you in. Well... actually come to think of it, maybe not. Its a huge business and a question on their mind is probably whether or not you have any clue how to run a business.

 

My point though is that I don't think its a "good old boys club" type thing. They need and want good owners. Problem is if you have no experience running a huge organization are they just going to be looking for another owner later when your money tree dries up.

 

It's definitely a good ole boys club. Jim Balsille (owner of R.I.M.) obviously knows how to run a business, has the cash and we definitely have the rabid fan base to bring another hockey team into the surrounding Toronto area but they wont let him have the team.

 

It's better for the Coyotes to die a miserable death (cause obviously they're doing well over there) than to bring an NHL team into a town where they can sell out every night.

 

 

If I'm not mistaken this is the second hocky team JB has tried to purchase in the past couple of years. Both times shut down.

 

 

 

 

You beat me to it Roy.

 

Couldn't agree with you more. The team struggled financially in Winnipeg so they moved it. But now that it's a US based franchise that sucks monkey sack and can't make any money, Gary Bettman is obsessed with saving face and not looking the fool and doing everything possible to keep the team from moving back to Canada. He'd move the Coyotes to Alabama or Hawaii before he ever let them back into Canada. Dern, stinkin' shame to because I think Hamilton would absolutely kick arse for relocation. Maple Leafs be damned.

 

Balsille has actually tried to buy 3 teams unsuccessfully. Penguins, then Nashville, then Coyotes.

[JiveTurkeyMoFo]

I always though it would be cool to buy an NHL franchise. Only thing is though, sports franchises are good old boys club type deals. Usually you have to be approved by the other owners. It's why you don't see a lot of Mega Millions or Power Ball winners owning sports franchises. Usually you have to be a successful business person who has made tens of millions doing something in order to even get consideration.

 

I'd guess they just want to know that you're stable. I'm sure they don't give a rats asz where the money comes from as long as they have some comfort that you'll be able to sign the ongoing payroll checks and aren't, you know, some guy who won a lottery and will be broke in a month.

 

I'm sure if you won the lottery, invested the money wisely and had doubled it 10 years later, they would have no problem letting you in. Well... actually come to think of it, maybe not. Its a huge business and a question on their mind is probably whether or not you have any clue how to run a business.

 

My point though is that I don't think its a "good old boys club" type thing. They need and want good owners. Problem is if you have no experience running a huge organization are they just going to be looking for another owner later when your money tree dries up.

 

It's definitely a good ole boys club. Jim Balsille (owner of R.I.M.) obviously knows how to run a business, has the cash and we definitely have the rabid fan base to bring another hockey team into the surrounding Toronto area but they wont let him have the team.

 

It's better for the Coyotes to die a miserable death (cause obviously they're doing well over there) than to bring an NHL team into a town where they can sell out every night.

 

 

If I'm not mistaken this is the second hocky team JB has tried to purchase in the past couple of years. Both times shut down.

 

 

 

 

You beat me to it Roy.

 

Couldn't agree with you more. The team struggled financially in Winnipeg so they moved it. But now that it's a US based franchise that sucks monkey sack and can't make any money, Gary Bettman is obsessed with saving face and not looking the fool and doing everything possible to keep the team from moving back to Canada. He'd move the Coyotes to Alabama or Hawaii before he ever let them back into Canada. Dern, stinkin' shame to because I think Hamilton would absolutely kick arse for relocation. Maple Leafs be damned.

 

Balsille has actually tried to buy 3 teams unsuccessfully. Penguins, then Nashville, then Coyotes.

 

This is just bad for the league...if a team can do better in Toronto (and I'm 100% sure it can, especially compared to Phoenix), why not approve the deal to move them to a better city with a strong ownership? Just sounds stupid to me....

[VintageComics]

This is just bad for the league...if a team can do better in Toronto (and I'm 100% sure it can, especially compared to Phoenix), why not approve the deal to move them to a better city with a strong ownership? Just sounds stupid to me....

 

Cause Gary Bettman is a jerk who would rather see people suffer than lose his pride.

[hockey&comicsguy]

This is just bad for the league...if a team can do better in Toronto (and I'm 100% sure it can, especially compared to Phoenix), why not approve the deal to move them to a better city with a strong ownership? Just sounds stupid to me....

 

Cause Gary Bettman is a jerk who would rather see people suffer than lose his pride.

 

 

 

I wouldn't say Bettman is anti-Canadian. I just think he prefers the teams to be in the US vs Canada. He wants to keep as much of the money here as possible. As I mentioned earlier, if a Canadian team is struggling, Gary wastes no time moving them to the US if possible. If a US team is struggling, he moves them to another US city. Of course now that's all changed. Apparently, like the government, the NHL has now thrown its hat into buying teams up and taking over control (in the interim so they say) until they can find a buyer that wants to keep the team in the US.

 

The whole Balsille fiasco had nothing to do with him being a bad guy and everything to do with him wanting to move the franchise back to Canada. Gary the twerp Bettman won't allow such a thing.

 

Just the latest in a long line of reasons why hockey fans, both Canadian and US, hate Gary Bettman with a passion. He's loathed league wide and still to this day, whenever he makes an appearance at a game or presents the Stanley Cup, he gets mercilessly booed. It's awesome.

[Hawkman]

I'd guess they just want to know that you're stable. I'm sure they don't give a rats asz where the money comes from as long as they have some comfort that you'll be able to sign the ongoing payroll checks and aren't, you know, some guy who won a lottery and will be broke in a month.

 

I'm sure if you won the lottery, invested the money wisely and had doubled it 10 years later, they would have no problem letting you in. Well... actually come to think of it, maybe not. Its a huge business and a question on their mind is probably whether or not you have any clue how to run a business.

 

My point though is that I don't think its a "good old boys club" type thing. They need and want good owners. Problem is if you have no experience running a huge organization are they just going to be looking for another owner later when your money tree dries up.

 

 

i agree for the most part, but then again, the nba has donald sterling (racist, slum lord owner of the clippers aka the clumps), so there must be SOME way for an i-d-i-o-t with enough money to get in. heck, george bush owned the texas rangers, didn't he?

[hockey&comicsguy]

I'd guess they just want to know that you're stable. I'm sure they don't give a rats asz where the money comes from as long as they have some comfort that you'll be able to sign the ongoing payroll checks and aren't, you know, some guy who won a lottery and will be broke in a month.

 

I'm sure if you won the lottery, invested the money wisely and had doubled it 10 years later, they would have no problem letting you in. Well... actually come to think of it, maybe not. Its a huge business and a question on their mind is probably whether or not you have any clue how to run a business.

 

My point though is that I don't think its a "good old boys club" type thing. They need and want good owners. Problem is if you have no experience running a huge organization are they just going to be looking for another owner later when your money tree dries up.

 

 

i agree for the most part, but then again, the nba has donald sterling (racist, slum lord owner of the clippers aka the clumps), so there must be SOME way for an insufficiently_thoughtful_person with enough money to get in. hell, george bush owned the texas rangers, didn't he?

 

Don't forget Jerry Reinsdorf. He ain't so squeaky clean either. The NHL owners actually approved Reinsdorf to bid on the Coyotes but not Jim Balsille.

[VintageComics]

Yeah, this has nothing to do with class or being a good businessman. Jim Balsillie is a classy guy. This is all internal good ole boy politics.

 

JB is so classy that for Christmas two years ago he rented the Air Canada Centre (where the Leafs play) and brought Van Halen to perform for a private party for all employees of RIM.

 

Not bad for a company Christmas party.

 

[500Club]

I always though it would be cool to buy an NHL franchise. Only thing is though, sports franchises are good old boys club type deals. Usually you have to be approved by the other owners. It's why you don't see a lot of Mega Millions or Power Ball winners owning sports franchises. Usually you have to be a successful business person who has made tens of millions doing something in order to even get consideration.

 

I'd guess they just want to know that you're stable. I'm sure they don't give a rats asz where the money comes from as long as they have some comfort that you'll be able to sign the ongoing payroll checks and aren't, you know, some guy who won a lottery and will be broke in a month.

 

I'm sure if you won the lottery, invested the money wisely and had doubled it 10 years later, they would have no problem letting you in. Well... actually come to think of it, maybe not. Its a huge business and a question on their mind is probably whether or not you have any clue how to run a business.

 

My point though is that I don't think its a "good old boys club" type thing. They need and want good owners. Problem is if you have no experience running a huge organization are they just going to be looking for another owner later when your money tree dries up.

 

It's definitely a good ole boys club. Jim Balsille (owner of R.I.M.) obviously knows how to run a business, has the cash and we definitely have the rabid fan base to bring another hockey team into the surrounding Toronto area but they wont let him have the team.

 

It's better for the Coyotes to die a miserable death (cause obviously they're doing well over there) than to bring an NHL team into a town where they can sell out every night.

 

 

If I'm not mistaken this is the second hocky team JB has tried to purchase in the past couple of years. Both times shut down.

 

 

 

 

You beat me to it Roy.

 

Couldn't agree with you more. The team struggled financially in Winnipeg so they moved it. But now that it's a US based franchise that sucks monkey sack and can't make any money, Gary Bettman is obsessed with saving face and not looking the fool and doing everything possible to keep the team from moving back to Canada. He'd move the Coyotes to Alabama or Hawaii before he ever let them back into Canada. Dern, stinkin' shame to because I think Hamilton would absolutely kick arse for relocation. Maple Leafs be damned.

 

Balsille has actually tried to buy 3 teams unsuccessfully. Penguins, then Nashville, then Coyotes.

 

This is just bad for the league...if a team can do better in Toronto (and I'm 100% sure it can, especially compared to Phoenix), why not approve the deal to move them to a better city with a strong ownership? Just sounds stupid to me....

 

I strongly agree!

 

Toronto needs an NHL team.

[Bronty]

 

 

Couldn't agree with you more. The team struggled financially in Winnipeg so they moved it. But now that it's a US based franchise that sucks monkey sack and can't make any money, Gary Bettman is obsessed with saving face and not looking the fool and doing everything possible to keep the team from moving back to Canada. He'd move the Coyotes to Alabama or Hawaii before he ever let them back into Canada. Dern, stinkin' shame to because I think Hamilton would absolutely kick arse for relocation. Maple Leafs be damned.

 

Balsille has actually tried to buy 3 teams unsuccessfully. Penguins, then Nashville, then Coyotes.

 

personal issues like those between bettman and balsillie happen. Doesn't necessarily mean the entire league is an old boys club.

 

according to the talk shows here anyways, the estimated value of a new franchise in southern ontario would be $400m. Why let Balsillie buy and move pheonix to that market for less than $250m? If you're the league you're leaving $150m on the table.

[Bronty]

I always though it would be cool to buy an NHL franchise. Only thing is though, sports franchises are good old boys club type deals. Usually you have to be

 

Toronto needs an NHL team.

 

[Bronty]

This is just bad for the league...if a team can do better in Toronto (and I'm 100% sure it can, especially compared to Phoenix), why not approve the deal to move them to a better city with a strong ownership? Just sounds stupid to me....

 

Cause Gary Bettman is a jerk who would rather see people suffer than lose his pride.

 

 

 

I wouldn't say Bettman is anti-Canadian. I just think he prefers the teams to be in the US vs Canada. He wants to keep as much of the money here as possible. As I mentioned earlier, if a Canadian team is struggling, Gary wastes no time moving them to the US if possible. If a US team is struggling, he moves them to another US city.

 

There's a reason for that though... he's staked his entire job on the idea of trying to get the NHL into non-traditional hockey markets so to get TV deal money across the whole states instead of just regionally from local networks (huge difference). Moving a team to canada doesn't help him get a network TV deal. So he's put all these teams into these useless fricking markets like nashville and pheonix but its like a poker game where he's pot committed. He's spent so much time/energy chasing this dream that simply can't admit defeat and keep his job at the same time.

 

You probably know all that, but again I don't think its because of "good old boys" type reasons. His obsession is network TV.

[hockey&comicsguy]

 

 

Couldn't agree with you more. The team struggled financially in Winnipeg so they moved it. But now that it's a US based franchise that sucks monkey sack and can't make any money, Gary Bettman is obsessed with saving face and not looking the fool and doing everything possible to keep the team from moving back to Canada. He'd move the Coyotes to Alabama or Hawaii before he ever let them back into Canada. Dern, stinkin' shame to because I think Hamilton would absolutely kick arse for relocation. Maple Leafs be damned.

 

Balsille has actually tried to buy 3 teams unsuccessfully. Penguins, then Nashville, then Coyotes.

 

personal issues like those between bettman and balsillie happen. Doesn't necessarily mean the entire league is an old boys club.

 

according to the talk shows here anyways, the estimated value of a new franchise in southern ontario would be $400m. Why let Balsillie buy and move pheonix to that market for less than $250m? If you're the league you're leaving $150m on the table.

 

 

That's a guesstimate and highly unlikely. The Maple Leafs are the most valuable franchise in hockey. Aside from the Leafs and New York Rangers, no other NHL team even sniffs the rarefied air that is $400 mil. Putting a team in Hamilton would likely have taken some of the revenue away from Toronto in fact. My guess is a franchise there would likely have been valued at 250 mil roughly. Pretty much exactly what Balsille offered. Only the Montreal Canadians top $300 mil amongst the other Canadian franchises, most being valued around $220 mil. Highly doubtful the league left any money on the table.

 

And just think about that argument. The league doesn't sell to Balsille for 250 mil and then in turn purchases the Coyotes themselves for 140 million? Something doesn't add up. Oh wait, that's because the Coyotes are the least valuable franchise in the league. They are a perennial money loser having never turned a profit in Arizona. The league knows full well the value of the team as it is in Pheonix and what it would have been in Hamilton. They long ago decided to ban Balsille from ownership. Which is within their rights according to the NHL's bylaws which permit the owners to vote on acceptance of new owners. I believe there was some anti-trust issue involved here but the judge ruled in the league's favor.

 

Even if a new franchise in that area were worth $400 million, the league has no other options. Not one single person came forth with a better offer for the franchise. In fact, each offer that was made, by the 2 or 3 other groups bidding, were nowhere near the level of Balsille's offer. The only reason those bids were accepted were because those potential owners agreed to keep the team in Arizona for the foreseeable future.

 

I can't say the "entire league" is an old boys club with 100% certainty. But let's say I can say it with 97% certainty. The way the NHL by laws are written pretty much takes the guesswork out of that assumption.

 

But no bother. Not trying to stir up a . As a lifelong hockey fan I just know a turd when I see one and the Phoenix franchise is a turd. IMO, 2 things were in play here. 1. Bettman and the "old boys club", which I might add pretty much consists of a hardcore group of US owners like Boston's Jeremy Jacobs don't want to see any new franchises in Canada at the expense of a US franchise. 2. Bettman's immense ego, likely due to a Napolean complex would rather see himself commit seppuku than admit he placed a team in a city that just can't be profitable for hockey.

[hockey&comicsguy]

This is just bad for the league...if a team can do better in Toronto (and I'm 100% sure it can, especially compared to Phoenix), why not approve the deal to move them to a better city with a strong ownership? Just sounds stupid to me....

 

Cause Gary Bettman is a jerk who would rather see people suffer than lose his pride.

 

 

 

I wouldn't say Bettman is anti-Canadian. I just think he prefers the teams to be in the US vs Canada. He wants to keep as much of the money here as possible. As I mentioned earlier, if a Canadian team is struggling, Gary wastes no time moving them to the US if possible. If a US team is struggling, he moves them to another US city.

 

There's a reason for that though... he's staked his entire job on the idea of trying to get the NHL into non-traditional hockey markets so to get TV deal money across the whole states instead of just regionally from local networks (huge difference). Moving a team to canada doesn't help him get a network TV deal. So he's put all these teams into these useless fricking markets like nashville and pheonix but its like a poker game where he's pot committed. He's spent so much time/energy chasing this dream that simply can't admit defeat and keep his job at the same time.

 

You probably know all that, but again I don't think its because of "good old boys" type reasons. His obsession is network TV.

 

 

Good point and I agree. I just happen to think that all of the major sports leagues are run this way. My father-in-law knows quite a few people high up that were tied to the Schott family and Charles Lindner, the previous 2 owners of the Cincinnati Reds and he's told me that he pretty much has been told the same thing as I am claiming about how things are done amongst sports franchise owners.

[mackenzie999]

US owners like Boston's Jeremy Jacobs

 

I throw up in my mouth a little bit every time I hear that name.

 

[tth2]

Levin sounds like the business manager guy in "Entourage". I love that guy!

[Bronty]

[quote

 

But no bother. Not trying to stir up a . As a lifelong hockey fan I just know a turd when I see one and the Phoenix franchise is a turd.

 

well said

[tth2]

It's why you don't see a lot of Mega Millions or Power Ball winners owning sports franchises.

No, the reason is that those lotteries don't pay enough to afford a major sports franchise. First, there's the taxes, that take a big cut out of the headline number. Second, the headline number is exactly that, a headline number. It's what you would get if you received the lottery jackpot in regular installments for 2 decades or something. For those who want the money upfront, and everyone always wants the money upfront, the amount received is less because they usually only give you the present discounted value of the headline number.

 

So the people winning several hundred million from a lottery don't get anything even close to that, and if you want to own a sports franchise, even in a league as rinky-dink as hockey, you better be worth at least several hundred mil. Of course, most owners don't have 100% ownership and usually have lots of partners.