Just when you thought it might be time to bring out the U-Haul’s, the Phoenix Coyotes are staying in Glendale…at least for now.
Despite the fact that the team lost a reported $37-million this season and hundreds of millions of dollars overall since moving from Winnipeg to Arizona, the NHL is standing firm in its belief that the NHL-owned club has a future in the state, even if it means being owned by the NHL for another 10 years.
That’s right – after telling us a couple of months ago that “time is running out” on the potential sale of the Coyotes to a buyer who would keep the team in Glendale, the city and the NHL have agreed to extend the “deadline” for another full season. Just like in the last agreement, the city will put aside $25-million to cover the team’s losses in the event that they still can’t find an owner by this time next year.
I hope the NHL didn’t forget its yoga mat, because it’s bending over backwards for the city of Glendale when it should really be the other way around, shouldn’t it? (more…)