Blog Entry

Three decline Coyotes offer

Posted on: February 9, 2009 4:40 pm

NHL Commissioner Gary Bettman made the rounds last week to quell rumors coming out of Phoenix about the Coyotes' financial woes, but it hasn't quieted the media.

According to the Chicago Tribune, the NHL approached Chicago White Sox owner Jerry Reinsdorf, Phoenix Suns majority owner Robert Sarver and Arizona Diamondbacks managing general partner Ken Kendrick about purchasing or investing in the Coyotes. All three turned down the offer after seeing the franchise's books.

The Coyotes are expected to lose $45 million this season and have reportedly lost close to $200 million since current owner Jerry Moyes bought the club in 2001.

"They're begging him to do it, but there's no way," a source close to Reinsdorf told the Globe and Mail. "He has no interest. Who would?"

An un-named, former NHL governor cited the Coyotes lease as a sticking point in getting a deal done.

"A lot of people have kicked the tires," the source told the Globe and Mail. "When you see they have 25 years left on their lease at $30 million a year [in losses], they tend to walk away."

Category: NHL

Since: Sep 11, 2006
Posted on: February 9, 2009 5:11 pm

Three decline Coyotes offer

Send them to Hartford

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