Skip to content

Coyotes may turn a profit if lockout wipes out the season

Dec 26, 2012, 1:25 PM EST

Coyotes-logo

The NHL lockout, now in its 102nd day, has meant bad news financially for most teams. For the league-owned Phoenix Coyotes, however, it might mean they get to turn a profit.

Mike Sunnucks of the Phoenix Business Journal reports the team’s new $300 million lease agreement with prospective buyer Greg Jamison would help keep the team in the black.

The bulk of that deal is the city paying Jamison on average $15 million per season to run Jobing.com Arena. The first season of that deal is for $11 million but is pro-rated to when Jamison closes on the purchase.

“The $11 million dollar figure would have been for a full year,” said Glendale spokeswoman Julie Frisoni. “Since we are now halfway through the year, it will most likely be in the range of $5.5 million to $6.5 million. It just depends on when the purchase of the team is complete and when Jamison takes over management of the facility.”

It’s remarkable that it would take a complete meltdown of a year where no hockey is played in order to help the Coyotes make money, but in this situation does anything surprise anyone?

Should the season be saved, the Coyotes would have to hope the fans return to fill out the building for every game or else they’ll risk having another financially losing season.

Latest Posts
  1. Season over: Avs lose MacKinnon to broken foot

    Mar 6, 2015, 11:43 AM EST

    Nathan MacKinnon Getty Images

    Huge blow to Colorado’s already slim playoff chances.

  2. In Edmonton, Yakupov’s future seems bright again

    Mar 6, 2015, 10:53 AM EST

    Edmonton Oilers v Toronto Maple Leafs Getty Images

    Which is good, considering he’s in the final year of his entry-level deal.

  3. Bruins sign Krug and Smith to contract extensions

    Mar 6, 2015, 9:50 AM EST

    Torey Krug Getty Images

    Both players were scheduled to become restricted free agents after this season.

  4. Stars’ Seguin could return within a week

    Mar 6, 2015, 8:50 AM EST

    Tyler Seguin Tyler Seguin

    He’s been out of the lineup since Feb. 13.

  5. Kings defeat Habs in shootout to tighten up West playoff race

    Mar 6, 2015, 1:36 AM EST

    Marian Gaborik, Drew Doughty AP

    Minnesota, Calgary and L.A. all win on Thursday.

  6. Predators’ losing streak hits five games

    Mar 5, 2015, 11:02 PM EST

    Pekka Rinne, Michael Grabner AP

    Brock Nelson scored the winner.

  7. Lawyer: Ribeiro to ‘vigorously fight’ $1M lawsuit alleging abuse of ex-nanny (Updated)

    Mar 5, 2015, 7:13 PM EST

    Mike Ribeiro Mike Ribeiro

    “At the same time, Mike will maintain his focus on doing all he can to help Nashville win its first-ever Stanley Cup.”

  8. Ovechkin (lower body) to miss first game of the season tonight

    Mar 5, 2015, 6:47 PM EST

    Washington Capitals v New York Islanders Getty Images

    Won’t suit up when the Caps take on Minnesota.

  9. Bruins sign former WHL captain Justin Hickman

    Mar 5, 2015, 5:27 PM EST

    Seattle Thunderbirds v Kelowna Rockets Getty Images

    Big forward who doesn’t mind dropping the gloves.

Featured video

Is there an issue with Babcock in Detroit?
Top 10 NHL Player Searches
  1. K. Okposo (2992)
  2. H. Lundqvist (2878)
  3. T. Seguin (2678)
  4. F. Andersen (2346)
  5. M. Giordano (2305)
  1. H. Zetterberg (2194)
  2. T. Hall (2174)
  3. B. Dubinsky (1896)
  4. A. Ovechkin (1864)
  5. P. Sharp (1859)