Yesterday came word that the Phoenix Coyotes filed Chapter 11 bankruptcy which could lead to a court-approved sale of the team. Word is the Coyotes lost in upwards of $45 million this past year which isn’t surprising in the least. If you live in Phoenix…err…Glendale would you have any interest in hockey whatsoever? It makes it even tougher to drum up a fan base when you haven’t made the playoffs since 2001-2002. Even the “Great One” Wayne Gretzky involved as head coach and Managing Partner hasn’t been able to get things rolling for the Coyotes.
Have no fear hockey lovers because Canadian billionaire Jim Balsillie has made a $212.5 million offer for the failing organization with the caveat they must return to Canada. Let’s not forget this team left wonderful Winnipeg back in 1996 for the mirage that is Phoenix. These offers have been made many times before for failing hockey teams, but this one might just go through. The only thing that might hold back the transaction would be if the 12 remaining Coyote fans were to lay down in front of the U-Hauls in protest as they head out for Canada.