Wayne Gretzky is Coyotes head coach and managing partner. ((Paul Connors/Associated Press))

Phoenix Coyotes head coach Wayne Gretzky confirmed Thursday that the troubled franchise requires financial assistance, and is seeking an investor who could help keep the team in Arizona.

The Coyotes could lose as much as $45 million US this season, including interest payments, and majority owner Jerry Moyes is looking for a partner.

Moyes also is speaking to city officials in Glendale about the lease arrangement at the community-owned Arena.

When Gretzky was asked whether the owner could continue to operate the club, given its losses, he deferred queries to Moyes.

But Gretzky, who is head coach and managing partner, also signalled that Moyes requires investment in the franchise and financial relief from the city of Glendale.

"I don't think it is any big secret that Mr. Moyes has asked for new partners or investors," Gretzky said. "Mr. Moyes is doing the best he can in working with the city and city officials.

"Our responsibility is to come, show up and play, and play the best we can."