Bettman: Lock-out if there's no deal by sept. 15 | Part II.
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09-05-2012, 01:28 PM
Join Date: Mar 2002
Originally Posted by
It had plenty to do with money. The team was hemorrhaging over $20 million per year.
The owner of Phoenix was bankrupt not the franchise. Moyes put it in bankruptcy to circumvent the NHL rules about selling/moving of franchises. ( the Balsillie saga). It went to court, the NHL won.
I am not saying that the Coyotes were not losing money as they were but so do 18 out of the current teams. There have been about 4 different groups willing to buy them from the NHL since then but political pressure (Goldwater) has de-railed every one of them.
Any money the team was losing was excaberated with the on-going saga.
The Business of Hockey has a mamouth (60 threads) thread on this topic. It has been well covered over there. Very good read for those interested.
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