SBD/August 20, 2014/Franchises

Gosbee Believes Coyotes Could Achieve Profitability Earlier Than Expected

Gosbee said he was comfortable with how the club is working on financial platforms
The Coyotes' recent long-term partnership agreements and "increased revenue from suite sales and tickets" have allowed co-Owner & Exec Chair George Gosbee to "pull back a bit from his involvement with the operations of the club during Year 1 of IceArizona's ownership," according to Craig Morgan of FOX SPORTS ARIZONA. The deals have also allowed Coyotes CFO Avik Dey to "pull back from his day-to-day duties entirely." Gosbee said, "As an ownership group, we're really comfortable with how the club is working on financial platforms. We've always had a three-year plan for achieving profitability here, but with how well the NHL is doing, we think that could fast-track our plan and we could get there even earlier." He added, "The goal is to become more competitive on the ice, and that comes partly with more dollars. The key is to get the franchise profitable, and that's not going to happen overnight. ... If it happens faster than we thought it would, great, but if it doesn't that doesn't concern us." The club last week signed a naming-rights "hybrid partnership" with Arizona-based Gila River Casinos. The Coyotes also have "signed a number of other long-term agreements, including a television rights agreement" with FS Arizona last year. Other deals "include City of Glendale (arena lease, 15 years), Levy Restaurants (food and beverage, 15 years) and Ticketmaster (10 years)" (FOXSPORTSARIZONA.com, 8/18).
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