New York Rangers v Phoenix Coyotes

Financial questions remain for Coyotes one year after purchase


IceArizona has owned the Coyotes for roughly a year now and while that purchase allowed them to avoid relocation, their long-term future in Glendale still isn’t secure.

The new ownership group has an out clause in its arena-lease agreement that will be triggered if the team loses a cumulative $50 million over five years. That prompted us to select the Coyotes fans themselves as our target in the 2013 edition of our Under Pressure series (if you missed it, it’s Mike Smith this year).

The hope was that fans who were put off by the lengthy period of relocation speculation would give the Coyotes another opportunity now that the team had a fighting chance to remain in Glendale. Additionally, it was believed that the Coyotes would be better marketed following the sale.

To that end, IceArizona deserves some credit, as Five For Howling noted:

The new owners also improved the game day experience at Arena with weekend tailgating, often attended by Team Chairman and Governor Gosbee barbecuing in the parking lots with fans. They also signed a deal to bring Canadian institution Tim Horton’s into the arena, giving relocated native Canadians living in the desert and newbies alike a chance to experience the joy of a coffee and Timbits.

The short-term payoff has been questionable though. The Coyotes were last in the league with an average attendance of 13,775 in 2013-14, according to That’s down from 13,923 in the shortened season, but still an improvement over the average crowd of 12,420 they drew in 2011-12. An argument can be made that 2011-12 is a better comparison because it was the last full season.

Either way, Coyotes CEO Anthony LeBlanc acknowledged that there’s plenty of work to be done.

“I’m probably a little disappointed in where we are with attendance,” LeBlanc said in December. “There are those marquee games like the Chicago game, which was obviously a very big night for us from the perspective that we broke the regular-season franchise record for gate revenue for a single game. But (two weeks ago), we had the Islanders and Carolina in town and there was roughly 10,000, 11,000 people in the building, and that’s simply not good enough.”

So one year into the IceArizona’s era and the jury’s still out as to whether or not it will be a success. Ultimately, the fate of the Coyotes might rest on the players themselves, seeing as the best way to draw a crowd is with a winning team.

Kings grab goalie insurance by signing Budaj

LOS ANGELES, CA - SEPTEMBER 22: Jhonas Enroth #1 and Peter Budaj #31 of the Los Angeles Kings stretch before a game against the Arizona Coyotes at STAPLES Center on September 22, 2015 in Los Angeles, California. (Photo by Andrew D. Bernstein/NHLI via Getty Images)
via Los Angeles Kings
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In slightly less interesting Los Angeles Kings news than the latest in the Mike Richards fiasco, the team handed Peter Budaj a one-year, two-way deal on Friday.

The veteran goalie’s contract pays $575K on the NHL level and $100K in the AHL (though it’s $150K guaranteed), according to Hockey’s Cap.

At the moment, it sounds like Budaj will be third on the Kings’ goalie depth chart. That says as much about how things have been going lately for Los Angeles than Budaj’s work on a PTO.

As noted above, one of the more significant moves in Budaj’s favor came when the New York Islanders claimed Jean-Francois Berube off of waivers this week.

The Kings actually waived Budaj before signing him, so this has to be a relief to a goalie with a fairly robust resume as a backup.

All apologies to Budaj, but it’s probably true that the Kings would prefer not to see him at the NHL level very often in 2015-16.

Kings, NHLPA announce settlement in Richards grievance

Los Angeles Kings v New York Rangers

The Los Angeles Kings announced today that they have “reached an agreement with Mike Richards to resolve the grievance filed in relation to the termination of his NHL Standard Players Contract. The terms are agreeable to all parties.”

The club said that it will not be commenting further “on the terms” of the settlement.

The NHLPA released a similar statement.

It was reported earlier in the week that a settlement was close to being reached; however, it wasn’t clear what salary-cap penalties the Kings would incur.

We’re starting to find out some details now:

How the final numbers differ from what the Kings would have incurred if they’d bought Richards out will be interesting to see. And if there are differences, how will they be justified?

Stay tuned.