Source: Prospective Coyotes Ownership Group Plans To Keep Team In Glendale
Prospective Coyotes Owner Renaissance Sports & Entertainment's "sole focus is on turning the team around financially and keeping it in Glendale for the long term," according to a source cited by Craig Morgan of FOXSPORTSARIZONA.com. The source said that the business plan by RSE is "extensive and focuses on increasing ticket sales, season tickets, corporate sponsorships, suites, realigned partnerships and proper expense management to achieve break-even status within the early years of ownership." A source said that the Coyotes "lost between" $10-15M last season. The group also would be "aided by added provisions in the league’s new collective bargaining agreement that help teams in emerging markets by removing some of the revenue sharing restrictions placed on them in the previous plans." It is "difficult to gauge how real the possibility" of an announcement of a purchase agreement next week is, "especially since at least two other ownership groups still believe they are in the running," including the groups led by Capstone Affluent Strategies Founder & CEO Darin Pastor and former Sharks CEO Greg Jamison (FOXSPORTSARIZONA.com, 4/29).
NO GUARANTEE: NHL Deputy Commissioner Bill Daly on Monday said that there is "basically no guarantee for either the short- or long-term future of the Coyotes." He said that he "thinks it’s 'better than 50-50' that the Coyotes will be playing in Phoenix next season." However, Daly said, "It’s not set in stone.” THE HOCKEY NEWS' Ken Campbell noted Daly also "acknowledged the league is aware of the alternatives it has at its disposal and realizes it may have to consider them at some point in the near future." Daly: “I think you get to a point. ... Look, we’ve tried really hard to keep this franchise here and there is a reason we do that, because we think this club could be successful given the right circumstances. So far we haven’t been successful in finding a buyer and at some point you have to make tough decisions. Are we getting to that point? If this doesn’t play out the way we’d like it to play out, maybe" (THEHOCKEYNEWS.com, 4/30).