May 09, 2009
Gretzky's Great Stake
Much has been written and said about the whole Jim Balsillie take over-and-relocate attempt of the Phoenix Coyotes. It is hard to take it all in, especially given that so many sports writers and bloggers have suddenly fancied themselves as bankruptcy experts.
Stephen Brunt of the Globe and Mail has a great article on Wayne Gretzky's stake in all of this, suggesting Gretzky could make at least $22.5 million if Balsillie's offer goes through.
Though Gretzky is completely quiet on all of this right now, Brunt also postulates that ultimately Gretzky may have to take sides. Will he tow the company line, staying characteristically loyal to the NHL establishment? Or will he, like almost anyone else, follow the money and perhaps hide behind the good for Canada/good for hockey line?
My best guess is Gretzky will continue to stay silent on this issue and let the lawyers figure it all out. But if Gretzky is financially motivated and opts to align himself with Balsillie, it would sure put the NHL in a tough spot in the courts of public opinion.
My best guess is Gretzky will stay silent on the issue and let the lawyers figure all of this out.