It ain't good, if that's what you're thinking...David Shoalts from The Globe and Mail says the 2009 losses on the franchise ((pictured, thanks azcentral.com)) will hit US$45-million after debt servicing. There will be more cutbacks after the layoffs that hit the team two weeks ago.
From Shoalts:
"Among the austerity measures pushed on the club by the NHL, which is monitoring the Coyotes' financial and player-personnel moves, is a reduction in travel by the club's scouts, according to sources. Last week, the Coyotes laid off 18 people in the front office, about 10 per cent of their staff."
FOSG Scott Burnside writes for the four-letter that the franchise is even losing when it comes to their share of league revenue-sharing. They've found a way to screw that up as well...losing a quarter of those dollars.
"That money, due to be $15 million but now less than that, is part of the NHL's revenue-sharing formula, where big-market clubs share resources with the smaller-market teams.
The formula, however, includes triggers that these clubs must hit in order to show improvement in a number of areas; since the Coyotes failed to hit revenue and attendance standards last season, they were penalized, according to sources.
One source put the final number at $10.5 million, and another said the number was slightly higher."
And Darren Dreger from TSN has word that the franchise is looking to be sold in the next two months, with Jerry Moyes keeping as much as a 20-percent stake.Contraction and a dispersal draft, according to Dreger and his sources, have not been considered.
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