Sale of the Coyotes in the future?
via Globe and Mail:
Two sources said Moyes is so eager to unload the Coyotes that he approached his former partner, Steve Ellman, about buying the team back.
“The answer was short and emphatic,” one of the sources said of Ellman’s refusal.
Club management has a more positive outlook.
“I am confident not only that hockey will be here in five years, but that we will be doing well in five years,” Coyotes governor and chief executive officer Jeff Shumway said, pointing to improved ticket and suite sales and fewer giveaways. “We run a great franchise in a great sport, a sport we love. And we’re in one of the fastest-growing markets in the U.S.”
Shumway’s optimism is not shared by many throughout the NHL.
“I don’t know how they can sustain the losses,” one former league governor said. “The team loses so much money you can’t sell it. If I were offered the team for a dollar, I’d say no because you can’t fix it.”
He estimates the Coyotes have lost more than $200-million since 2001 – $80-million more than the purchase price. The Coyotes regularly receive payments from the NHL’s revenue-sharing plan, introduced after the 2004-05 lockout.
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