The Phoenix Coyotes rank last in NHL attendance at the quarter mark of the 2009-10 NHL season, and that is not the worst news. The bad news is since the Coyotes new Fiscal year began July 1st the organization has lost 15.9 million dollars, according to Court Documents.
Since the current NHL season began the Coyotes have gotten off to a 13-9-1 start and have scored 27 points, those figures have them third in the Pacific Division, and yet they can only attract 9,850 fans per home game, and through a quarter of the NFL season have lost some five million dollars, according to the Sporting News.
The NHL is quick to say that this loss will not affect their search for a permanent owner for the Coyotes, however that seems strangely optimistic given the current situation.
This is a club that has never turned a profit, it has a bad lease with the City of Glendale robs it of essential revenue like parking and a large share of the concessions. The NHL seems to think they can hoodwink a big money investor into buying this team in a down economy.
The simple fact here is no one is going to buy the Coyotes as is, there needs to be a new lease with the city and some assurances that the fans will come back. It seems that this fan base has tuned this team out, and no longer cares about them.
It seems clear that the Coyotes in Phoenix are not financially viable and if the NHL thinks they can find a buyer for them as presently constituted they are diluted. Jerry Reinsdorf, owner of the Chicago White Sox and Chicago Bulls, who is one of the most successful sport franchise owners in this country was wise enough to stay away from such a lost cause.
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