Bettman says Coyotes staying put

Updated: March 27, 2009, 12:29 AM ET
Associated Press

GLENDALE, Ariz. -- NHL commissioner Gary Bettman says the financially struggling Phoenix Coyotes are actively seeking investors or possibly new ownership, but reiterated that the team won't be relocated.

"Our goal is to bring in new capital and make this franchise solvent," Bettman said Thursday night while attending the Coyotes game against the Edmonton Oilers. "That's our direction, and at this point moving the franchise elsewhere is not on the table."

The Coyotes have reportedly lost $200 million since current owner Jerry Moyes brought the team in 2001, and are projected to lose another $30 million this season.

Bettman said the Coyotes are actively engaging with potential investors, whom he would not identify.

The Coyotes will miss the playoffs for the sixth consecutive season and have had only two sellouts in 37 home games.

In a recent survey, Glendale residents rejected the notion of taxpayer money to help provide financial assistance to the team.

"We're looking for an infusion of capital and thinking about nothing else," Bettman said. "We're talking to a number of people, but there's no sense of urgency."


Copyright 2009 by The Associated Press

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