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Phoenix Winning But Losing Money
by Paul on 11/20/09 at 08:06 AM ET
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from Paul Waldie of the Globe and Mail,
The club is 12-9-0 as of yesterday, but it lost $5-million (all currency U.S.) in October, the first full month of the NHL season, according to documents filed in an Arizona bankruptcy court this week.
So far this fiscal year, which began July 1, the Coyotes have lost $15.9-million, the filings show. If that pace continues, the Coyotes could lose close to $50-million this season.
NHL deputy commissioner Bill Daly isn’t fazed by the reported losses and said they won’t impact the league’s efforts to sell the club.
“I don’t expect that publicly reported loss numbers will have any impact whatsoever on our ability to sell the club,” Daly said in an e-mail yesterday. The “losses in the short term don’t seem to be factoring into the interest of potential buyers. They have much bigger, longer-term vision of the investment.” Daly added the league has fielded a number of inquiries about the club. “Lots of calls and discussions [i.e., more than six]. Not sure I would classify them all as interested bidders.”
Filed in: NHL Teams, Phoenix Coyotes | KK Hockey | Permalink
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