Phoenix Coyotes: What Exactly Is Going on in Glendale?

May 15th, 2010 by Matthew Rutledge-Taylor Leave a reply »
What exactly is going on in Glendale?  Is it really about the survival of one NHL team, or is it about a bigger picture issue that many NHL Hockey fans are familiar with.  If you are new to the NHL, then read on, and learn a bit about its recent history and its future.

Let’s start with the Phoenix Coyotes.  Here’s a brief recap of recent events surrounding the Phoenix Coyotes.  Jerry Moyes, CEO of Phoenix-based Swift Transportation, was originally only a minority owner of the Phoenix Coyotes.  However, in September 2006, he was compelled to buy-out majority owner, and former business partner, Steve Ellman.  Jerry Moyes never wanted to own the team outright and continuously sought a buyer for the Coyotes, which are reported to have lost as much as $300 million dollars since 1996. 

In 2008, Moyes informed the NHL that he was unwilling to fund the team’s losses, which were as much as $40 million dollars a season, any further.  The NHL agreed to fund the team’s losses in exchange for Moyes voting control of the team.  The NHL came close to a deal to sell the team to Jerry Reinsdorf, owner of th ...

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