Preds Sale UpdateJune 12, 2007
From the Tennessean:
Jim Balsillie has submitted a formal application to buy the Predators.
Balsillie’s lawyer, Toronto-based attorney Richard Rodier, said the application was sent to the NHL late Monday.
NHL deputy commissioner Bill Daly confirmed that the league received the application Monday night.
The application, which includes a purchase agreement, is a step that’s necessary before the NHL’s Board of Governors would review Balsillie’s bid to purchase the Predators from current owner Craig Leipold.
Balsillie is hoping that bid will be reviewed at the board’s June 20 meeting, but Daly said that’s not likely.
What does this mean? well quite simply it means that Balsillie is moving ahead with the purchase of the team. Those holding out hopes that Leipold would retain the rights should begin looking for something else to hold onto. Daly saying it’s ‘not likely’ that the potential sale would make the June 20th agenda is not good news. That means that the Preds could still be in limbo come July 1st which is beginning of the free agency period. Even if David Poile has permission from Leipold and Balsillie to spend top the cap Nashville may not be appealing to players who want to know their is some stability in the franchise.
For those who pray…pray that the pending sale gets added to the agenda. For those who don’t pray…start or the Predators may not look to good come October.