Kukla's Korner Hockey
Phoenix Winning But Losing Money
by Paul on 11/20/09 at 08:06 AM ET
Comments (0)
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
Comments
Be the first to comment.
Add a Comment
Please limit embedded image or media size to 575 pixels wide.
Add your own avatar by joining Kukla's Korner, or logging in and uploading one in your member control panel.
Captchas bug you? Join KK or log in and you won't have to bother.
Commenting is not available in this weblog entry.
Most Recent Blog Posts
Video- The Relationship Between Brodeur And Kovalchuk
Video- “Lof Of Good Guys In Hockey”
It Will Be The New Jersey Devils Against The Los Angeles Kings In The 2012 Stanley Cup Final
Open Post- Rangers/Devils Game 6 Eastern Conference Finals
About KK Hockey
Paul Kukla founded Kukla’s Korner in 2005 and the site has since become the must-read site on the ‘net for all the latest happenings around the NHL.
From breaking news to in-depth stories around the league, KK Hockey is updated with fresh stories all day long and will bring you the latest news as quickly as possible.
Email Paul anytime at .(JavaScript must be enabled to view this email address)
Make extra cash while playing online poker. Rakeback is free and comes with rake races.
Kukla’s Korner is always a free service for readers, but it costs some money to maintain. If you’re ever in a position to donate a few dollars to help out, we’d be very appreciative.