CBC-Sports

NHL will take care of Gretzky

October 30, 2009 09:20 PM | Posted by   Elliotte Friedman  

Wayne Gretzky will not prevent the NHL from purchasing the Phoenix Coyotes, and the league wants him to know that it will do everything possible to repair their damaged relationship.

Gretzky had until Friday to file a motion challenging Jerry Moyes's agreement to sell the team back to the league. Defeated in his attempt to flip Phoenix to Canadian businessman Jim Balsillie, Moyes wanted to get out as quickly as possible now that the team must cut $2.6 million US worth of payroll cheques every two weeks. It is possible the NHL will take control on Monday.

However, there were several reports Gretzky was unhappy with the new terms of sale, and sources say that is absolutely the case. For two days this week, his lawyer, Ron Fujikawa, negotiated with NHL deputy commissioner Bill Daly and league commissioner Gary Bettman about reaching a settlement.

Originally, Gretzky was listed as a creditor for $22.5 million, the value of his contract. He is willing to forfeit money that would have been earned after he resigned as coach – $13.3 million.

The $8.2 million remaining represents money owed to him from the past three seasons. Gretzky agreed to defer salary because of Phoenix’s financial problems.

Right now, the NHL's bid provides for between $11-$12 million to three potential creditors – Gretzky, Moyes and the city of Glendale. Gretzky isn’t thrilled that there is no certainty of collecting. Apparently, he is not asking for all of the money up front or in some lump payment, but an acknowledgement that, at some point, he will collect.

One league source says that will happen.

"We recognize that a lot of us have jobs because of what he's done for a long time. What has happened this summer has been totally unfair to him, but, because he's Wayne Gretzky, it all ends up on him ...This is important, and we realize it is important.”

That is 100 per cent the proper philosophy. But, there is one concern.

At this time, it was not possible to get the board of governors to vote on raising the purchase price from $140 million to $148 million. And, there may be slight resistance to doing so. Some of the governors are apparently unhappy with Gretzky’s public disappointment, and could let that affect their decision.

That is a ridiculous attitude.

It’s been a brutal summer for the NHL. Even if you feel Gretzky is being greedy – and I don't – the bottom line is he’s done more for the league than anyone at the ownership level. You may not like some of the expansion decisions, but that money kept some struggling, more established teams alive – including the Edmonton Oilers.

This should be a no-brainer. Follow our source's advice. Make sure it gets done.

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