Last Updated on September 7, 2009 11:19 pm by Anthony Rome
Expensive Relocation
Phoenix, AZ – Two studies conducted for the NHL set a potential relocation fee of $101 million to $195 million to move the Phoenix Coyotes to Hamilton, Ontario.
The figures are listed in a lengthy brief filed over the weekend in the bitter fight in U.S. Bankruptcy Court over ownership of the franchise.
The potential fees are in stark contrast to the $11.2 million to $12.9 million cited by economics professor Andrew Zimbalist in a study conducted for Canadian billionaire James Balsillie. Balsillie, co-CEO of the company that makes the Blackberry, wants to buy the franchise for $212.5 million, contingent on moving it to Hamilton.
The NHL made a last-minute bid of $140 million to purchase the team and keep it in Arizona.
Posted: 9/7/09 11:19PM ET