Moyes confirms Coyotes sale talks
GLENDALE, Ariz. -- The owner of the Phoenix Coyotes has confirmed news reports that the team has received expressions of interest from potential investors in the team.
Jerry Moyes said a potential sale of the team is under review.
In a news release, the team said Moyes will continue conversations with potential investors to enable the Coyotes to retire debt and obtain working capital, which will reduce Moyes' ownership percentage in the team.
The team said Moyes and managing partner Wayne Gretzky have had discussions with potential investors interested in joining them and continuing the team's presence in Glendale.
Moyes said he met with Glendale city management and they expressed strong support for the team, and whose assistance would contribute to helping the Coyotes operate on a positive cash flow basis.
Moyes said he will have no further comment until the investment process has been concluded.
Copyright 2009 by The Associated Press