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troutman · 03-12-2012, 02:14 PM

Due diligence tripping up Phoenix Coyotes sale?

http://www.bizjournals.com/phoenix/m...article_search

The challenge for the Coyotes sale has been that “crossing the t’s and dotting the i’s” phase. The team has been losing $20 million to $25 million a year. Prospective ownership groups have struggled over the red stains on the Coyotes' balance sheet and how to work out something related to the team’s losses with the NHL and Glendale.

One source who has direct knowledge of the Coyotes' long-running saga says prospective buyers have come in with optimism regarding their bids, only to run into stumbling blocks when investment partners see the franchise’s losses.

03-12-2012, 02:14 PM	#243
troutman Unfrozen Caveman Lawyer Join Date: Oct 2002 Location: Crowsnest Pass Exp:	Due diligence tripping up Phoenix Coyotes sale? http://www.bizjournals.com/phoenix/m...article_search The challenge for the Coyotes sale has been that “crossing the t’s and dotting the i’s” phase. The team has been losing $20 million to $25 million a year. Prospective ownership groups have struggled over the red stains on the Coyotes' balance sheet and how to work out something related to the team’s losses with the NHL and Glendale. One source who has direct knowledge of the Coyotes' long-running saga says prospective buyers have come in with optimism regarding their bids, only to run into stumbling blocks when investment partners see the franchise’s losses.