Out of the Darkness: Jerry Moyes to Accept NHL's Offer to Buy Coyotes?

(Photo by Christian Petersen/Getty Images)

Written By: Mark “The Hard Hitter” Ritter

TSN is reporting that disgruntled Phoenix Coyotes owner, Jerry Moyes, has agreed to sell the Coyotes to the NHL. The deal, which seemingly will need a stamp of approval from Wayne Gretzky, was brought forward earlier today in US bankruptcy court.

In order for the deal to be accepted bankruptcy court Judge Redfield T. Baum must give his final approval, something that has eluded any of the past bids, including that of Canadian Jim Balsillie.

Currently, there is no word on the amount of the NHL’s offer, one could assume that it will be in the $140 million range that the NHL put forth earlier this summer, which coincidentally, was rejected by Judge T. Baum.

Suffice to say, this is just the beginning of what will likely be another long drawn out process, leading to yet another distraction for the players and fans of the Coyote’s.

Even if the sale of the Coyote’s is approved, it would seemingly only amount to a stop-gap solution. The NHL is on the record as saying that they do not want to be in the business of owning NHL teams and, when you consider the Coyote’s are losing money by the buckets full, you quickly understand that the NHL will be motivated sellers.

The Coyote’s have been the victim of poor results on the ice, an arena that is well off the beaten path for many Arizona residents and the lack of significant TV revenue. Add it all up and you have a franchise that is in “the perfect storm” and very likely will not escape disaster, if not extinction.

The Coyotes, who are off to a surprising 6-3 start through the first nine games of the 2009-10 season, face an uphill battle when it comes to regaining the trust of its fans. Clearly, anyone bidding on the team will have to look at relocation, even if it is the undesirable outcome for the NHL.

Stay tuned, this soap opera just won’t end...Like Yogi Berra once said, “It’s like deja vu all over again!”

Until next time,

Peace!

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