Forget all that brave chatter from NHL commissioner Gary Bettman. His league faces severe ownership instability in this difficult economic environment.

The Phoenix Coyotes are bankrupt. The league ran the team this season and Glendale, Ariz., had to eat the arena rent.

Blackberry chairman Jim Balsillie is on the prowl again, willing to buy the Coyotes off the pile for a fair price ($212 million) and move a team to Hamilton, Ont.

The NHL is reluctant to add Balsillie to its club, owing to some of his earlier antics while trying to bring another team (Penguins, Predators) to Canada. So he faces an uphill battle to make this move.

With the Atlanta Thrashers also in play, a second Hamilton group has emerged. Tom Gaglardi and former Calgary Flames owner Nelson Skalbania are interested in moving the Thrashers, not the Coyotes, into Copps Coliseum.

(Skalbania moved the Flames from Atlanta to Calgary, making Thrashers fans wonder what he has against Georgia’s capital.)

The NHL isn’t high on either Gaglardi or Skalbania, so this deal will be and hard to pull off. And while the Thrashers could escape their lease at Philips Arena, that team is in the midst of an ugly ownership battle.

That dispute must be resolved before the team could try to move.

If Hamilton fails to land either of these days, look for groups in Winnipeg and Kansas City to sniff around for potential franchise shifts. Las Vegas is another possibility, although NHL owners might be leery of testing still another Sun Belt market.

In addition to the Coyotes and Thrashers, the Predators, Islanders and Panthers face uncertain futures in their markets. It would be a shame to see the storied Islanders franchise move, but that team is more than a decade overdue to a new arena on Long Island.

Bettman wants his franchises to stay put, which is admirable. That quest may not be feasible, though, in this though global economy.

Stay tuned . . .

AROUND THE RINKS: Coyotes coach Wayne Gretzky is in limbo with his franchise in limbo. Phoenix is close to his adopted hometown of Los Angeles, so it would hard to imagine him moving back to Ontario with the franchise. Whatever happens, the Great One won’t be poor. If the team is sold out from under him, he could collect another $22.5 million on his coaching contract . . . The Ottawa Sun notes that free-agent Swedish goaltender Jonas Gustavsson is about to cash in. The Maple Leafs, Kings, Canucks and Oilers all have interest . . .Former goaltending great Patrick Roy sounds ready to coach in the NHL — and both the Avalanche and Canadiens would have interest. He has already talked with the Avalanche. The NHL would be a whole lot more interesting with the ultra-intense Roy behind a bench . . . Hockey Buzz predicts at least nine teams will bid on Vincent Lecavalier as the NHL Draft nears . . . How good has Martin Havlat been for the Blackhawks this season? He went from being expendible early in the season to commanding big love (10-year contract offer?) from Chicago management . . . Another one from Hockey Buzz: If the Sharks unload disappointing Joe Thornton, Columbus would love to add the big playmaker. And the Blue Jackets have some interesting young talent to offer San Jose . . . Alex Ovechkin isn’t making many friends in Pittsburgh. If the Penguins move on, they’ll be without Sergei Gonchar, who was injured by Ovechkin’s knee-to-knee hit . . . Even in this tough economy, defenseman Jay Bouwmeester will get huge offers when he hits unstricted free agency this summer. Florida would love to keep him, but Hockey Guy expects him to land with a contender in the Great White North . . . If the Blues want to offload a defensive salary, it won’t be easy. Several veteran defensemen will be on the market, including Jason Smith of the Senators . . . Here is a list of potential unrestrcited free agents, with teams ranked in the order of which has the most to lose.