Weekend Rewind 

December, 18, 2006
The most interesting news of the weekend broke Friday evening, when Canadian businessman Jim Balsillie, reportedly not happy with some of the terms and conditions placed upon him by the NHL, opted to pull the plug on his $175 million bid to purchase the Penguins.

According to several published reports, Balsillie bailed out when the NHL wanted to gain a degree of control over the movement of the franchise beyond what has already been established in the league's bylaws. If that was the case, I can't blame Balsillie for backing out. You just don't pay $175M for something and sign away that kind of control. If Balsillie had agreed to such terms, he wouldn't have much negotiating leverage with state and local officials in Pennsylvania.