The Party of the First Part Wins the Cup

Take back the Stanley Cup?
That’s what Bill Lankhof is saying fans should do.
Lankhof argues that by staging a lockout, the NHL is terminating its relationship with the Stanley Cup, thus making it eligible for another entity, like any other kind of league, amateur or professional.
I’m no lawyer, but it makes perfect sense to me.
If the NHL isn’t using the Cup, maybe another league should be allowed to.
I bet the WHA would be interested.