Balsillie's lease deal for Copps set to expire

The marriage between Hamilton, Ont., and entrepreneur Jim Balsilleis over, save for the paperwork.

Mayor Fred Eisenberger said Thursdaythe city's agreement with Balsillie on a 32-year lease for the city's Copps Coliseum, where Balsille had hoped to house thePhoenix Coyoteshockey team, will expire at the end of this month.

While Balsillie's bid for the bankrupt Coyotes was rejected Sept. 30, the Hamilton mayor said the lease remains in effectfor the 30 days Balsillehas toappeal the ruling by an Arizona bankruptcy court.

The point appears moot. The Waterloo, Ont., billionaire and co-CEO of Blackberry-maker RIM has stated he has no plans to appeal the ruling quashing his bid for the NHLteam.

Balsillie has concluded his business relationship with Toronto public relations firm Veritas Communications, which was representingthe publicity-shy Balsillie in the media duringhis highly publicized negotiations with the league.

Balsillie has indicated he plans to abandon his pursuit of an NHL franchise, at least for the time being, to concentrate on business.

Eisenberger said Balsillie has made no overtures to extend his lease pact for Copps.

Balsillie's three-year flirtation with Hamilton began in 2006 when he made a bid to buy and relocate another NHL team: the Pittsburgh Penguins. When that bid was foiled by the NHL, Balsillie tried a few months later in 2007 to buy Nashville.

Hamilton looks to new hockey strategy

In many respects, Balsillie was an NHL owner made in heaven. He was an established, savvy businessman who was also adedicated hockey fan familiar with the Hamilton market.

And as a billionaire, he would have the financial wherewithal to ice a competitive Hamilton franchise while paying relocation and indemnification fees to Toronto and Buffalo.

But Balsillie's previous bids to relocate NHL teams to this market made him an enemy to NHL commissioner Gary Bettman and the board of governors.

While Bettman has hinted the NHL might be interested in returning to either Quebec City or Winnipeg, Hamilton's NHL steering committee will likely meet near the end of the month to begin charting a new hockey strategy.

"I think there is a cooling-off period," Eisenbergersaid. "I think that makes sense. Let the dust settle a little bit."

Eisenberger said he is currently not talking with any other NHL suitors.

Hamilton Councillor Terry Whitehead, chairman of the city's NHL steering committee, said he believes Hamilton is on par with Quebec and Winnipeg as a possible NHL market.

While Balsillie's rejection means a $150-million renovation for Copps Coliseum is off the table, the Bay Street hockey pavilion remains the city's ace card, Whitehead said.

"The Copps Coliseum as it is today can host an [NHL] hockey game. The question is, can it sustain a hockey team [long term, which would require] more corporate boxes?" Whiteheadsaid. "Can it host a team? Yes. Would it be viable going into the future? Probably not."