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The State Of The Coyotes
by Paul on 01/21/09 at 04:14 PM ET
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from Joe LaPointe of the New York Times,
Gretzky has spent the last several weeks seeking new investors for a team expected to lose at least $30 million this season. “Yeah, I’ve talked to a few guys,” he said this week. “More or less introductions to meeting with the league and meeting with Mr. Moyes.”
In some ways, his current franchise manifests some of the problems that used to plague the W.H.A. About 20 employees were laid off last month. There have been recent reports, particularly in The Globe and Mail of Toronto, of N.H.L. concern and involvement in the Coyotes’ business decisions.
But team and league officials said speculation about bankruptcy or a move to another city is false. Without prompting, Gretzky said: ``You ask me my gut feeling — is this team going to be here in September? Absolutely.”
added 5:04pm, Just notified this link requires registration, I am working on it.
Filed in: NHL Teams, Phoenix Coyotes | KK Hockey | Permalink
Tags: Wayne+Gretzky,
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They only get 20 million in gate receipts, thats why they are losing money.
Posted by Colton from Calgary on 01/21/09 at 05:37 PM ET
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How can you have a $40M payroll and lose $30M…? Do they have zero revenues? Even Jagr laughed when he heard this…..Yeah they are losing money but they are really just posturing with the arena authority to get a sweetheart deal. Same old… same old….and if the Great One is so high on hockey in Arizona maybe he should put in some of his own money before he asks other people to give him a bailout.
Posted by kevin from boston on 01/21/09 at 04:46 PM ET