The Arizona Coyotes have had a rough couple of years in the standings and it appears as if it’s been rough behind the scenes as well.
The Coyotes are often one of the teams most frequently discussed as a potential re-location candidate and some numbers from a recent Forbes article might explain why. Before we dive into the numbers, we should say that we buy into the fact that their Glendale arena really hurts them, but they’re not on a good trajectory.
According to Mike Ozanian, a writer at Forbes, the Coyotes have been averaging a loss of $30 million per year for five years before the losses spiked in 2017-18 to $50 million.
Forbes goes on to say that the team’s debt is expected to have reached near $300 million dollars and news broke earlier this year that the team was looking for a $500 million valuation. The Coyotes are in a tough spot, but with a young team, a bounce back season could help a lot.
They were one of the hottest teams in the league at the end of last season, so there’s still hope.