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Jim Balsillie

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James Laurence Balsillie
Born (1961年02月03日) February 3, 1961 (age 64)
Occupation(s)co-CEO, Research in Motion
SpouseHeidi Balsillie

James Laurence "Jim" Balsillie (born February 3, 1961) is a Canadian businessman and co-CEO of the Canadian company Research In Motion. He was born in Seaforth, Ontario, and raised in Peterborough, Ontario, where his family relocated in 1966. He received a Bachelor of Commerce degree from the Trinity College at University of Toronto, where he was admitted to the Zeta Psi fraternity. He earned an MBA from Harvard University in 1989.

Jim is also a noted athlete and passionate fitness advocate. He was named Athlete of the Year at Trinity College, University of Toronto, plays hockey and golf at competitive levels, and coaches his son's soccer and basketball teams. He currently trains and competes in Men's Long Course Triathlons. Balsillie is also the Honorary Chair of the Peterborough YMCA's Building New Memories Campaign and on March 2, 2007 that same YMCA announced that the new facility they opened the previous month will forever be known as the Balsillie Family YMCA.[1] With an estimated net worth of 3ドル.4 billion, he is the ranked ninth-richest person in Canada.

Hockey

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Balsillie has been active in his efforts to buy a National Hockey League franchise with the overt intention of moving whichever franchise he buys to Hamilton, Ontario. He has so far bid on at least three teams; both the Nashville Predators and Pittsburgh Penguins rebuffed his offers because of his desire to move the team to Hamilton, while a third offer to buy the bankrupt Phoenix Coyotes, with the same precondition, has recently failed.

Balsillie has also had discussions with the Buffalo Sabres about purchasing that team, but no offer was made.[2] The Sabres have been one of the largest opponents of a Hamilton NHL franchise, due to the fact that much of the Sabres' fan base comes from that territory.[3] The league itself also opposes any potential move to Hamilton.

Pittsburgh Penguins purchase bid

On October 5, 2006, Balsillie made a bid to purchase the Pittsburgh Penguins, an NHL franchise, for US$185 million from former player Mario Lemieux and his partners.

At the Penguins' home opener that evening, Balsillie appeared in the TV booth with broadcasters Paul Steigerwald and Bob Errey during the second period. Upon hearing that Errey was from Peterborough, Ontario, Balsillie's hometown, Balsillie responded with an expletive, "oh man holy shit!", that went out over live TV.[4]

The announcement came at a time that the Penguins were attempting to build a new arena. The team had reached a deal with casino operator Isle of Capri Casinos, where a new 290ドル million privately-funded facility would be built across the street from Mellon Arena, should the company receive a slots casino license from the state of Pennsylvania.

While Pennsylvania Governor Ed Rendell created an alternative to the funding plan should the casino proposal fail to materialize, Balsillie said that only the Isle of Capri plan would guarantee the Pittsburgh Penguins' future in the city.

His statements drew skepticism from fans, who believed Balsillie intended to move the team to Canada. While Balsillie refused to rule a move out, he asserted his commitment to Pittsburgh, should a new arena be built.

On December 15, 2006, Balsillie withdrew his bid to buy the team. He made the decision after receiving notice from NHL commissioner Gary Bettman that the league would not approve the deal unless he agreed to keep the team in Pittsburgh. The league also wanted the right to take over the team if necessary. [5]

Balsillie's sudden withdrawal angered Lemieux to the point that he claimed he would be able to retain Balsillie's 10ドル million deposit.[6] The deposit was eventually returned, perhaps in light of subsequent events - the Penguins' existing ownership eventually negotiated a new arena deal with the Pennsylvanian government, and subsequently took the team off the market.

Nashville Predators purchase bid

On May 23, 2007 it was announced that Balsillie had reached a tentative agreement to buy the Nashville Predators from Craig Leipold.[7]

Balsillie had stated that he would move the Predators to Hamilton, Ontario as soon as the 2007-08 season. The Predators' attendance was 21st in the league (in terms of percentage of capacity)[8] despite finishing with one of the league's best regular season records, thus calling into question Nashville's viability as a hockey market.

There is an exit clause in the team's lease at the Sommet Center that could be activated if attendance does not improve. Leipold himself had not ruled out a re-location, but repeatedly reassured the Nashville fans that he would do everything he could to keep the team there.

It is strongly believed that Balsillie's long-term goal remains to relocate a team to Southern Ontario and that will most likely try to move the Predators at the earliest opportunity. Most speculation has circled around Hamilton, with Balsillie's new company, Golden Horseshoe Sports & Entertainment, securing exclusive rights to bring an NHL team to Copps Coliseum, as well as the rights to operate Hamilton Place, the Hamilton Convention Centre, and the associated parking facilities.[9] Hamilton Mayor Fred Eisenberger has stated that Balsillie's intention is to bring an NHL team to Copps in Hamilton.[10] Relocating to Hamilton would almost certainly require compensation and/or residual rights to be granted to the Toronto Maple Leafs as they own territorial rights to the region. Buffalo may also demand compensation although they are out of the 80 km territorial zone set by the NHL.

On June 14, 2007 Balsillie started to accept season ticket deposits for the Hamilton Predators through Ticketmaster. He collected more than seven thousand deposits on the first day of the campaign, and within days had capped deposits for luxury boxes at 80. By June 19 Balsillie was believed to have 12,000 deposits for season tickets in Hamilton, far exceeding the Predators' current season ticket base.[11] Balsillie is said to have done this to show the NHL board of Governors that Hamilton is a viable NHL market.

However, accepting deposits from Hamilton at this stage is a risky action that some analysts have warned could backfire on Balsillie, as there are reports that members of the league's Board of Governors were upset with this decision. League policy states that one condition for a relocation to be accepted is that the new owner must make a good faith effort to keep the team in its city. Accepting season ticket deposits in another city probably goes against that standard. In addition, the NHL is said to be looking at possible legal action against Balsillie for using the Predators' name on Ticketmaster.

TSN reported on Friday, June 22, 2007, that Leipold had instructed the NHL not to consider Balsillie's application to purchase the team. A few hours later Leipold issued this statement: "We did send the NHL a letter today requesting that it not do any further due diligence on Jim Balsillie’s offer for the Nashville Predators until we reach a binding agreement. If Jim is interested in reaching a binding agreement, we are prepared to move forward."[12]

On June 28, 2007, CBC.ca reported that Leipold had decided not to sign a binding agreement with Balsillie and that Leipold plans to sell the team to William DelBiaggio, who has the rights to the newly-completed Sprint Center in Kansas City, Missouri.[13] This apparent move has startled some analysts since DelBiaggio's offer is said to be worth about 50ドル million less than Balsillie's. However, DelBiaggio himself has insisted that any sale to him will take several months to complete.

Phoenix Coyotes purchase bid

See also: 2009 Bankruptcy Filing

On May 5, 2009, Balsillie made an offer of 212ドル.5 million to purchase the Phoenix Coyotes following the team's filing for bankruptcy protection in Arizona. In a press release from Toronto, Ontario,[14] the offer to purchase is conditional on relocation to Southern Ontario. At the request of the current owner of the Phoenix Coyotes, Jim Balsillie agreed to post debtor-in-possession financing of 17ドル.0 million U.S. dollars to allow the Phoenix Coyotes to operate in advance of a restructuring or a sale. A few hours later, the NHL removed Coyotes owner, Jerry Moyes, from all decision making regarding the future of the Phoenix Coyotes, as the NHL has had control over the team and all holdings since Moyes signed a proxy agreement. This is to be disputed in court on May 19, 2009 in Phoenix Bankruptcy Court.[15]

Balsillie's latest efforts also include the creation of a large public relations campaign, Make it Seven , purportedly to curry favor in the court of public opinion prior to the upcoming bankruptcy hearing for the Phoenix Coyotes Organization, as represented by the NHL.[16] The name of the campaign refers to increasing the current number of NHL franchises located in Canada to seven. Aspects of this PR strategy include the creation of a website that accumulates signatories in favor of moving the team to southern Ontario, Canada.[14]

On May 13, 2009, The Canadian Press reported on TSN.ca that Balsillie won the exclusive rights to Hamilton's Copps Coliseum until November after a unanimous vote by Hamilton city council. On May 29, 2009, Balsillie unveiled his plans to renovate the Coliseum into a state-of-the-art facility in anticipation of a NHL franchise coming to Hamilton.[17]

On May 16, 2009, Balsillie welcomed Labatt Breweries and Home Hardware into the fold as his first two "anchor corporate partners."[18]

Ruling on Coyotes

On June 15, 2009, Judge Redfield T. Baum rejected Balsillie’s bid to purchase the Coyotes.[19] [20] [21] Baum’s ruling included that he did not have the power to force the team to move and that Balsillie’s June 29th deadline did not give the court enough time to resolve all the issues in the case.[19] [20] [21]

On June 16, 2009, Balsillie’s spokesperson Bill Walker stated in a news conference that the ruling "is just the latest step in the process"[22] and "This is very much a bid that's moving forward."[23] He confirmed about Balsillie that "The commitment remains completely unchanged. He's committed to Hamilton, he's committed to Copps Coliseum. He just sees this as another day at work, another day at the office."[22] Balsillie’s legal adviser Richard Rodier also attended the news conference. He said that "At the end of the proceeding and the whole process, I think the Phoenix Coyotes are going to end up in Hamilton. The NHL referred to a lot of other people who are dying to keep the team in Phoenix. Right now ours is the only offer on the table."[24] Rodier also stated they are willing to negotiate with the NHL, but the league has yet to approach Balsillie.[22] On August 5, 2009, Judge Baum ruled that Balsillie could take part in the auction for the team on September 10th. [25]

Philanthropic work

In 2000, Balsillie provided 10ドル million of personal funds towards the founding of the Perimeter Institute for Theoretical Physics, adding to the 100ドル million already contributed by fellow RIM executive Mike Lazaridis.

In 2002, Balsillie founded the Centre for International Governance Innovation with 30ドル million of personal funds.

In 2007, Balsillie donated 50ドル million to the University of Waterloo, Wilfrid Laurier University and the Centre for International Governance Innovation as part of a 100ドル million initiative to create the Balsillie School of International Affairs.

Statement regarding patents

Responding to the settlement by RIM against NTP, Inc., Balsillie listed several flaws with the U.S. patent system, particularly that too many "bogus" patents are issued. He also stated that the judge in the case ignored later findings by the U.S. patent office that NTP's patents were not valid, and quoted a Newsweek article in saying that the court's treatment of RIM was like "a judge in a murder case pondering execution while ignoring DNA evidence that exonerates the accused."[26]

Resignation

On March 5, 2007, Jim Balsillie resigned his role as chairman of RIM as the firm reported over US250ドル million in past stock option accounting errors after an extensive review. He retains his roles as co-chief executive and director. He was replaced by Chief Financial Officer Dennis Kavelman.[27]

Notes

  1. ^ Research In Motion
  2. ^ Kelley, Jim. The Art of Doublespeak. Sportsnet.ca. 9 December 2008.
  3. ^ Fink, James. NY senators oppose NHL team in Hamilton. Business First of Buffalo. 18 May 2009. Retrieved 22 May 2009.
  4. ^ [1]
  5. ^ [2]
  6. ^ [3]
  7. ^ [4]
  8. ^ [5]
  9. ^ NHL Policies Examined, www.canada.com/nationalpost, June 6, 2007
  10. ^ "Balsillie has deal for Hamilton arena". CBC.ca. May 31, 2007. {{cite news}}: Italic or bold markup not allowed in: |publisher= (help)
  11. ^ [6]
  12. ^ Leipold says Balsillie deal not dead yet | Finance and Ventures | NashvillePost.com: Nashville Business News + Nashville Political News
  13. ^ "Balsillie's bid to buy the Predators nixed: report". CBC.ca. June 28, 2007. {{cite news}}: Italic or bold markup not allowed in: |publisher= (help)
  14. ^ a b Make It Seven
  15. ^ Spurrier, Guy (May 5, 2009). "Balsillie bids to buy bankrupt Phoenix Coyotes". National Post. Retrieved May 6, 2009. {{cite news}}: Italic or bold markup not allowed in: |publisher= (help)
  16. ^ On air speculation of legal advisors, and sports broadcasters, the Fan 590, CJCL
  17. ^ "Jim Balsillie Unveils Dramatic Revitalization for Copps Coliseum". Social Media Release by CNW. May 29, 2009. {{cite news}}: Italic or bold markup not allowed in: |publisher= (help)
  18. ^ The Canadian Press (May 15, 2009). "Balsillie lands big corporate sponsor to help bid for Coyotes". TSN.ca. {{cite news}}: Italic or bold markup not allowed in: |publisher= (help)
  19. ^ a b "Judge rejects Balsillie's bid to buy Coyotes". CBC.ca. June 16, 2009. Retrieved June 16, 2009. {{cite news}}: Italic or bold markup not allowed in: |publisher= (help)
  20. ^ a b McGran, Kevin (June 16, 2009). "Judge shuts Balsillie out". Toronto Star . Retrieved June 16, 2009. {{cite news}}: Italic or bold markup not allowed in: |publisher= (help)
  21. ^ a b The Canadian Press (June 17, 2009). "Bettman not surprised that Balsillie intends to forge on". TSN.ca. Retrieved June 23, 2009. {{cite news}}: Italic or bold markup not allowed in: |publisher= (help)
  22. ^ a b c "Balsillie vows to fight on". Toronto Star. June 16, 2009. Retrieved June 16, 2009. {{cite news}}: Italic or bold markup not allowed in: |publisher= (help); Unknown parameter |name= ignored (help)
  23. ^ "Balsillie's bid for Phoenix Coyotes 'moving forward'". CTV.ca. Updated June 16, 2009. Retrieved June 16, 2009. {{cite news}}: Check date values in: |date= (help); Italic or bold markup not allowed in: |publisher= (help)
  24. ^ "Balsillie camp unbowed by court ruling". CBC.ca. June 16, 2009. Retrieved June 16, 2009. {{cite news}}: Italic or bold markup not allowed in: |publisher= (help)
  25. ^ http://www.570news.com/more.jsp?content=20090805_190859_7156
  26. ^ RIM chairman calls for overhaul of U.S. patent laws, Globe and Mail , 6 April 2006
  27. ^ [7]

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