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NHL Will Decide The Fate Of The Coyotes

from George Witkowski of the Glendale Star,

With all the happenings surrounding the Phoenix Coyotes, Glendale Mayor Elaine Scruggs is hopeful a settlement can be reached to keep the Coyotes, but she said the National Hockey League has the ultimate say in dealing with the buyer or buyers.

The name being tossed about in the negotiation process is San Jose Sharks President and CEO Greg Jamison, although Jerry Reinsdorf’s name still comes up in conversation. Scruggs said the city has heard proposals and discussions from the league and Jamison, and it is up to them to settle the matter, since the city has decided to keep the Coyotes.

With expenses accrued over the years, the NHL is looking to sell the Coyotes for $170 million and, according to the latest issue of Forbes, the Coyotes are worth $134 million, the same as last year.

“The matter really rests in the hands of the NHL,” Scruggs said. “We’ve made our decision and it’s up to the NHL, and we don’t have anything to talk about until a potential buyer proposes a change.

continued

 

Filed in: NHL Teams, d, | KK Hockey | Permalink
 

Comments

wolverine's avatar

Scruggs said the city has heard proposals and discussions from the league and Jamison, and it is up to them to settle the matter, since the city has decided to keep the Coyotes.

Wow, what doesn’t she get…the team is worth $134 million and the league wants $170 million.  They won’t get that with a team in Glendale, but they will get that for a team in Quebec or Kansas City.
[quote…]since the city has decided to keep the Coyotes.

This is funny.  Are they buying the team for $170 million?

Posted by wolverine on 12/08/11 at 12:18 PM ET

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1) Wolverine has it dead-on here. What non-insane business person would over spend on a franchise that will definitly lose money regardles of how well they play?
2) The Phoenix experiment has failed. Time to cut the losses NHL and move on, literally!

Posted by Fauxrumors on 12/08/11 at 03:35 PM ET

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This thing will get done. Jamison has a group in place and is serious about his offer. Glendale is a growing market. Notice how ticket sales have gone up this year (even without an owner). The city is confident the deal will be in place. Even John McCain is playing cheerleader right now. It’ll work and the Coyotes will remain where they belong.

Posted by Alex from Tucson on 12/09/11 at 02:17 AM ET

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The only thing failing about the ‘Yotes, is ownership(or lack there of).  Personally, I find it hard to spend the thousands of dollars I’ve invested attending games, like I’ve done in previous years(a little over $11,000 last year alone, and I don’t make much to begin with).  This year, I’ve spent far less that $1,000.  Dumping hard earned cash into something with a wildly unknown future is tough to do in this economy.  The players and coaches have been doing a stellar job, considering this has loomed over them for the past couple of years.  They’ve stepped up, and it’s now time for someone with the business management skills to do the same.  Securing an owner with a viable business model would boost attendance, ticket sales, and overall revenue.  Numbers may not be in the black for a couple of years, but implementing a legitimate business plan, paired with a strong management team, the red would turn to black within a few seasons.

Posted by beavo040 from Mesa, AZ on 12/09/11 at 12:10 PM ET

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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.

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