NHL steps in to help Coyotes find additional finances

Just how bad are things for the Phoenix Coyotes?

According to ESPN.com the NHL has stepped in to help find financial aid for the struggling Coyotes.

Whether it will be an infusion of cash from a new investor or a new ownership group is unclear but one thing seems apparent the Coyotes are losing large amounts of money and Coyotes owner Jerry Moyes is “in dire financial straights”.

The NHL is currently in discussions with the City of Glendale to rework the Coyotes lease at Jobing.com arena. Under the current lease Phoenix has difficulty generating revenue from the arena.

The Coyotes, unlike most teams in the NHL, receive nothing from parking fees at the arena. Instead, they actually pay a surcharge of $2.70 per vehicle. That means instead of generating upwards of $10 million in revenue, they pay more than $2 million.

The NHL seems to be doing everything they can to assure the financial viability of the Coyotes here in Phoenix.

The league is helping the Coyotes by providing detailed data from other franchises on revenue streams, especially those in nontraditional hockey markets.

One interesting name that the ESPN report mentions is movie and television producer Jerry Bruckheimer as a potential new investor or owner for the Coyotes. Bruckheimer has had interest in owning an NHL franchise in the past and has the money to make it happen. He also has Arizona connections as he is a graduate of the University of Arizona with a degree in Psychology in 1967.

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Tags: Jerry Bruckheimer, Jerry Moyes, University of Arizona