NHL

Gretzky admits Coyotes are in financial trouble

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TSN.ca Staff
1/16/2009 2:45:59 AM
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Phoenix Coyotes head coach Wayne Gretzky confirmed to the Globe and Mail Thursday that the troubled NHL franchise requires financial assistance and is seeking an investor who could help keep the team in Arizona.

''I don't think it is any big secret that Mr. Moyes has asked for new partners or investors,'' Gretzky told the newspaper, referring to team owner Jerry Moyes' desire to find new investors for the club. ''Mr. Moyes is doing the best he can in working with the city and city officials. Our responsibility is to come, show up and play, and play the best we can.''

The Coyotes could lose as much as US$45-million this season the Globe reported, and Moyes is speaking to city officials in Glendale about the lease arrangement at Jobing.com Arena.

Earlier this week, ESPN.com's Scott Burnside reported that the Coyotes were penalized 25% of their portion of the revenue-sharing pot last season, a program to help smaller market teams compete with bigger market teams. Teams can only collect their share of the revenue-sharing money if they attain certain revenue and attendance targets. According to Burnside, the Coyotes were unable to hit those targets and didn't collect last season.

Wayne Gretzky (Photo: Jeff Vinnick/NHLI via Getty Images)

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(Photo: Jeff Vinnick/NHLI via Getty Images)
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