….especially surrounding the Coyotes situation, but the fact of the matter is, nothing much happened there. And also, I bought a house, so I’ve been busy.
But here’s a quick rundown of everything happening in the world of sports.
1) The Coyotes seem to be likely moving to Hamilton.
1A) I don’t think the move will gain owner approval (because it will kill the Sabres) so there’s a remote chance the team stays in Phoenix.
1B) I’m going to write a sternly worded letter to Judge Baum if he gives away the team.
Re: 1B, you’re saying “The guy has a responsibility to the creditors!”
While I’ll agree that in the scope of the normal job of a bankruptcy judge, financial concerns are typically the largest focus. However, in the case of the Phoenix Coyotes, there’s a whole list of creditors who get neglected by the proceedings. These are what I like to call the emotional creditors. The people who live and die (mostly die, it seems) by the condition and play of the team. The guys who realize they don’t live in the best hockey city in the country and who know they don’t follow the best hockey franchise in the league, but damnit, it’s their team. These people didn’t put down $100 million as an investment, because first of all, they don’t have $100 million. But if they did, they would spend it on this team as a labor of love, a point of pride.
For similar reasons, you don’t have children as investments, and you don’t buy professional sports teams as investments.
Sure, your son could end up being the next Tom Brady / Kobe Bryant and buy you a huge house in Hawaii, but most children end up being a financial loss for the parents. Sports teams are the same way. Too much lately, a sports franchise has been regarded as a soulless business, the overenthusiastic adult at the little league game, if you will, pushing his son to destroy the competition at all cost, while neglecting to give the tools necessary for success down the road (focusing on old free agents vs developing talent and focusing on little league vs developing educational skills, respectively)
Rambling aside, you have to get into the situation wanting to get yourself in the situation. You need to realize that the point isn’t the money you make, it’s about making the best of the situation and enjoying the ride. By doing that, you’re much more likely to ensure the success of your child, whether they be human or a sports franchise.
Baum owes the emotional creditors more than the greedy financial investors in this case. The fans who bled red and white for the decade+ years of hockey in the valley. The voters in Glendale who voted to pay for the stadium as a point of local pride (even if the stadium is misplaced) don’t deserve the loss of their investment to pay a man who led the team to bankruptcy, but is the #1 creditor to the Coyotes.
And it’s a disgrace.