The relocation of coyotes from Winnipeg to Arizona is a story of financial struggles and instability that has plagued the franchise for years. The Coyotes were originally founded in Winnipeg in 1972 as the Winnipeg Jets, but the team was sold to a group of investors in Phoenix in 1996 and renamed the Phoenix Coyotes. Since then, the team has faced numerous financial challenges and ownership changes that have threatened its existence.
One of the biggest challenges faced by the Coyotes was their inability to secure a long-term lease at their arena in Glendale, Arizona. The team had been playing at the Gila River Arena since it opened in 2003, but the city of Glendale terminated the Coyotes’ lease in 2015, citing financial losses and a lack of performance by the team. This forced the Coyotes to search for a new home, and they eventually reached an agreement with the city of Tempe to build a new arena there.
However, the Tempe arena plan fell through in 2017 when the Coyotes were unable to secure the necessary funding from the Arizona legislature. This left the team without a long-term home once again, and they were forced to sign a two-year lease extension with the Gila River Arena in 2018.
The Coyotes’ financial struggles have also been compounded by ownership changes over the years. The team was initially owned by Jerry Colangelo, who sold it to Steve Ellman and Wayne Gretzky in 2001. Ellman and Gretzky struggled to make the team profitable, and they eventually sold it to Jerry Moyes in 2009.
Moyes filed for bankruptcy in 2009, and the NHL took over ownership of the team. The league operated the Coyotes for four years before selling them to IceArizona, a group of investors led by George Gosbee, in 2013. Gosbee passed away in 2017, and the team was sold to Alex Meruelo in 2019.
Despite these ownership changes and financial struggles, the Coyotes have managed to remain in Arizona and continue playing in the NHL. The team has made the playoffs several times since moving to Phoenix, and they have a dedicated fan base that supports them through thick and thin.
The relocation of coyotes from Winnipeg to Arizona has been a rollercoaster ride of financial struggles and instability. The team has faced numerous challenges over the years, including a lack of a long-term home and ownership changes. However, the Coyotes have managed to persevere and remain a part of the NHL, thanks in large part to their dedicated fan base.
