Coyotes CEO Denies NHL Is Helping Franchise Make Payroll

Coyotes CEO Says Reports That NHL Is  Helping Franchise Are Merely Rumors

Coyotes CEO Jeff Shumway said that rumors that the NHL is helping the franchise meet payroll are “not true,” according to Jim Gintonio of the ARIZONA REPUBLIC. Shumway: “A lot of this is coming from out of the state, and out of the country. Rumors are rumors. People have their own agendas. We clearly have admitted that this franchise has substantial losses, and that needs to be fixed.” Gintonio reported the Coyotes have “asked for the NHL’s help in the timing of certain payments (revenue sharing) that are owed to the team.” Also, the NHL is “helping the team look for investors, but this is not groundbreaking.” Meanwhile, Shumway said of the team’s Jobing.com Arena lease with the city of Glendale, “There’s been a lot written in the press about the lease. None of this has come from me. But we have a pretty good relationship with the city of Glendale, and the lease was done many years ago before we (current ownership) got involved with the team.” Shumway said that fans “do not need to be overly concerned about the situation, but changes are needed.” Shumway: “All of us need the economy to turn around. We’ve tried to address some fundamental issues with how we do business.” Shumway added, “Hockey will be a great sport in Phoenix and Glendale, probably way beyond my years” (ARIZONA REPUBLIC, 12/31).