Reinsdorf, Sarver, Kendrick Turn Down NHL’s Coyotes Pitch
NHL Commissioner Gary Bettman "was turned down" on separate occasions by White Sox and Bulls Chair Jerry Reinsdorf, Suns Managing Partner Robert Sarver and D'Backs Managing General Partner Ken Kendrick "in attempts to peddle" the Coyotes, according to sources cited by David Shoalts of the GLOBE & MAIL. All three execs were said to have "backed out after looking at the books of the Coyotes, who are expected to lose as much as" $45M this season. A source close to Reinsdorf said the deal is "not happening." The source: "They're begging [Reinsdorf] to do it, but there's no way. He has no interest. Who would?" Reinsdorf, Sarver and Kendrick could not be reached for comment, and NHL Deputy Commissioner Bill Daly declined to comment. A source said that Bettman "cannot get any takers even though he is offering the team for nothing as long as the buyer covers the Coyotes' liabilities -- the annual losses plus a large debt to a New York hedge fund, thought to be about" $80M. A former NHL Governor said, "A lot of people have kicked the tires, but once they see the numbers, they walk away. When you see they have 25 years left on their lease at $30[M] a year (in losses), they tend to walk away." The former NHL Governor said that there have been "inquiries from a couple of groups about the Coyotes, but only if they can move the team from its home in Glendale" (GLOBE & MAIL, 2/6).
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