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The Situation In Phoenix
by Paul on 01/14/09 at 09:51 PM ET
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from Darren Dreger of TSN,
The Phoenix Coyotes believe Arizona is a strong hockey market and are convinced this NHL team isn’t going anywhere.
However, the Coyotes are in a deep financial crisis, propped up by the National Hockey League with short-term financing protection and operating loans helping Phoenix manage cash flow to sustain their business for the remainder of the season.
It’s unclear how long the league will continue to carry this team, although league sources say contraction or a dispersal draft haven’t been discussed or considered.
Sources say the team is expected to be sold within the next two months with current owner Jerry Moyes retaining as much as 20 percent.
Filed in: NHL Teams, Phoenix Coyotes | KK Hockey | Permalink
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