NHL Trying To Find New Investors For Phoenix
KK Hockey —
... league sources.
The league also is trying to help broker changes to the existing lease with the city of Glendale in the hopes of making the situation more attractive new investors or owners.
Coyotes owner Jerry Moyes is in dire financial straights, with his outside business interests—most notably Swift Transportation, a large trucking firm—having been hammered by high gasoline costs, followed by the dramatic downturn in the economy.
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Puck Headlines: NHL steps in to save Phoenix Coyotes
Puck Daddy —
... it sounds like the NHL is working hard to renegotiate the team's lease with the city to ease the financial strain. But this line is rather scary: "No one knows for certain if the Coyotes can finish out the season under the current financial climate, and at some point the specter of bankruptcy looms large." Sort of sucks the fun out of that all-you-can-eat package. Good luck, 'Yotes fans; try to avoid reading the Globe & Mail for the rest of the month. [ESPN] Preview: Phoenix Coyotes at Colorado ...
NHL steps in to help Coyotes find additional finances
Fanster.com —
Just how bad are things for the Phoenix Coyotes?
According to ESPN.com the NHL has stepped in to help find financial aid for the struggling Coyotes.
Whether it will be an infusion of cash from a new investor or a new ownership group is unclear but one thing seems apparent the Coyotes are losing larges amounts of money and Coyotes owner Jerry Moyes is “in dire financial straights”.
The NHL is currently in discussions with the City of Glendale to rework the Coyotes lease at Jobing.com arena. Under the current lease Phoenix has ...
Empty Netter Assists - Western Conference - 12-24-08
Empty Netters —
... -The Sharks got 33 saves from Evgeni Nabokov in a 5-0 shutout of the Canucks.
Patrick Marleau had a goal and two assists for San Jose while Devin
Setoguchi and Joe Thornton each contributed a goal and an assist.
-Jonathan Quick made 24 saves and recorded his first career shutout as the Kings won at Columbus, 3-0. Patrick O'Sullivan had a goal and an assist for Los Angeles.
-The NHL is trying to help the cash-strapped Coyotes find new revenue. There might be some in Winnipeg.
(Photo: John Ulan/Canadian Press ...
Speed Read: Manny Was Never An Angels Option
SPORTSbyBROOKS —
... , but it’s now official: The NHL is scrambling to keep the Coyotes solvent. ...
Decking the halls with boughs of snark
Snapshots —
... choosing to strike just before the World Junior Championships, news of a de-facto NHL takeover of the Phoenix Coyotes, and the KHL's desire to ...
Coyotes Seek NHL Bailout While Negotiationing New Lease
SportsBiz - The Business of Sports Illuminated —
... The principal owner, Jerry Moyes, is actively seeking a buyer for the club. One difficulty is the team's lease of its current home in Glendale. The arena is new and the club has a 30 year lease which is only breakable in bankruptcy. The team and the city are currently renegotiating the terms of the lease, but most revenue streams from the arena now go to the club, so there is precious little room for improvement. That also means, short of pitching the team into bankruptcy and the new owners then buying the club out of bankruptcy in order to move it, there is little chance ...
Puttin' On the Foil - A Weekly NHL Recap 12/28
Sean Leahy's Going Five Hole —
... after separating his shoulder during a fight. The Phoenix Coyotes are struggling so bad financially , that the NHL has stepped in and is helping out the club. The ice at Wrigley Field ...
Story of sports media 2008.
Sports Media Watch —
... are not as recession proof as some had thought. In the WNBA, the four-time champion Houston Comets folded after failing to find new ownership. The entire 2009 Arena Football League season was cancelled so the league could work on fixing its economic model. That bad news came after the league saw its New Orleans Voodoo franchise unexpectedly fold. Even in more mainstream sports, franchises are in trouble. The NHL's Phoenix Coyotes are in such dire financial straits that the league is " taking an active role in trying to find new investors or ownership " for the franchise. Auto ...
Let Freedom Ring: Busting the Myth of the Salary Cap by Shawn Hoffman
Baseball Prospectus —
... about this season as well. But the NHL is a great example of why caps and capitalism don't mix: as the league grows, it ends up leaving teams behind. Small-market clubs like the Columbus Blue Jackets and the Nashville Predators are forced to spend almost two-thirds of their revenue on player payroll. And the Phoenix Coyotes, after years of hemorrhaging money, are on the verge of going bankrupt . So what's the best solution? Certainly not the NBA's soft-cap system, which has too many problems to even countimagine having to take on Luis Castillo or ...
The Gary Bettman franchise relocation litmus test
Puck Daddy —
... to take away the financial burden, and the NHL is trying to facilitate that sale. If they can't ... well, is that "critical mass?" ...
Amare Stoudemire Could Be Traded By The Phoenix Suns For Financial Reasons
FanIQ Blog —
... The Phoenix Coyotes were damn near bankrupt in December, and the NHL nearly had to begin operating the team. The Nashville Predators also recently considered buying their own unsold tickets ...
Phoenix Coyotes Go Bankrupt, Forget To Tell NHL [Nhl]
Deadspin —
... , perhaps even Phoenix's very right to file Chapter 11 with approval. It might have something to do with the $30 million or so that the league reportedly gave the Coyotes to stay in business. And that Gary Bettman doesn't like people who they can run his league better than he can. It's obvious that the great Arizona hockey experiment has failed, but Bettman might be ...
