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Coyotes receive monetary assistance

Updated: April 30, 2009, 11:11 AM ET
ESPN.com news services

PHOENIX -- The NHL has loaned an unknown amount of money to the Phoenix Coyotes for payroll and rent payments.

The Arizona Republic reported Wednesday that if the team fails to pay its debt, the league can take it over, according to financial records filed with Maricopa County Recorder's Office.

The day after the team agreed to loan terms Feb. 24 with the NHL, it paid Glendale nearly $351,000 in overdue arena rent payments.

The loan terms give the NHL more ...

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