Feb 9, 2012, 6:28 PM EST
We don’t want to say things are getting desperate in Glendale, but…things are getting desperate in Glendale.
Via The Arizona Republic:
Glendale and hockey officials won’t offer anything definitive on the ongoing Phoenix Coyotes ownership saga but they will say what won’t work: a proposal floated by a potential City Council candidate for fans to buy the team a la Green Bay Packers.
The NFL franchise has been publicly owned since 1923. About 112,000 fans own Packers stock and a board of directors and an executive committee handle day-to-day business.
Stew Radawec, who plans to run for Glendale City Council in the Cactus District, proffered the idea as worth exploring as he opposes any more city money going to the National Hockey League.
The concept has been raised numerous times among Coyotes fans since the ownership woes began in 2009.
Not to be a jerk, but could you picture a Coyotes IPO? We imagine it’d be a lot like Facebook’s IPO, if nobody was on Facebook.
What the Coyotes need if they’re going to stay in Glendale is an owner (or ownership group) with deep enough pockets to absorb losses until the franchise can be turned around, assuming that’s even possible. Or, it needs an owner like Terry Pegula who’s not in it for the money.
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