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 ...
Read Full Article at Bleacher Report - NHL
Article written by Matthew Rutledge-Taylor
Phoenix Coyotes: What Exactly Is Going on in Glendale?
May 15th, 2010 by Matthew Rutledge-Taylor Leave a reply »
Advertisement