Considering the arduous journey to get there, it’s understandable that some view a completed Phoenix Coyotes sale as a “finish line” of sorts. In reality, that would be just the beginning for the new owner.
Michael Sunnucks’ latest update explores the possibility that potential owner Greg Jamison might have trouble running the team even if he manages to complete the purchase.
Operating capital could be the newest obstacle facing the Jamison purchase and the Coyotes tenuous situation in Glendale, Ariz.
Essentially, the prospective Coyotes owner needs the money, financing or favorable sales terms so he can pay the bills, meet payroll and keep the lights on after a sale.
Sunnucks discusses a few other elements that could make affording the team more difficult.
There are indications that even if Jamison is able to bring together the cash and investors needed to buy the Coyotes, he still needs to raise extra capital to then operate the hockey team.
That may include dealing with a possible work stoppage if NHL players and owners can’t reach a new collective bargaining agreement and games are lost. There’s also the chance the Coyotes situation could come up as owners and players craft a new CBA.
Sunnucks circles back to the possibility that the NHL might lower its asking price or find a way to finance the deal creatively – such as putting aside some reserve money to help the Coyotes “pay vendors and meet payroll” – but that would require NHL approval.
The NHL is reportedly asking for $170 million in the sale after purchasing the team for $140 million in 2009.