Thursday, June 11, 2009
Financial Planner: NHL Won't Work In Phoenix
A Toronto financial planner has added his data to the argument that an NHL club won't work in Phoenix ((jobing.com arena is pictured, thanks Getty file)).
The Coyotes rank 29th out of 30 NHL teams - ahead of only the St. Louis Blues - in market viability, according to Tri-Delta Financial CEO Ted Rechtschaffen.
His firm represents an American trying to sell his minority stake in a U.S.-based NHL club. Rechtschaffen crunched numbers to determine where that particular market ranked in the NHL. The club isn't Phoenix, nor is it relocating, he said.
The NHL, the Coyotes and BlackBerry maker Research In Motion head Jim Balsillie, who has made a US$212.5-million offer to buy the franchise and move it to Hamilton, awaited an Arizona judge's ruling Thursday on whether Balsillie can do that.
Pulling together five years' worth of data from ESPN, Forbes, the U.S. Census Bureau and the sports teams marketing bureau, Rechtschaffen concluded the keys for an NHL club's survival are location and gate revenue.
Without fan support, corporate sponsorship and television rights contracts die out, he said.