Kukla's Korner Hockey
In Simple Terms- The Coyotes Have Lost A Lot Of Money
by Paul on 07/23/09 at 09:43 PM ET
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from Paul Waldie of the Globe and Mail (Friday edition),
With bids for the Phoenix Coyotes due in an Arizona bankruptcy court today, the club has revealed it lost more than $60-million (all currency U.S.) last season.
Documents filed in court show the club’s hockey operations posted a $27.1-million loss for the year ended June 30. Hockey revenue, which came largely from ticket sales, totalled $58.3-million, about $7-million less than the club expected.
The net loss, which included interest payments and other costs, was $67.1-million, according to the filing.
Filed in: NHL Teams, Phoenix Coyotes | KK Hockey | Permalink
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