PHOENIX — The Phoenix Coyotes are expected to lose between $25- and $35-million (all currency U.S.) this year and with his primary business under financial duress, owner Jerry Moyes may not be able to cover the hockey team's losses any longer.
That leaves him three choices:
- Renegotiate the Coyotes' arena lease to effectively put the city of Glendale into the position covering some of the losses;
- Put the franchise into bankruptcy;
- Turn the keys over to the NHL, forcing commissioner Gary Bettman to find a new owner.
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