Coyotes owner confirms talks with investors
The owner of the Phoenix Coyotes has confirmed media reports that the team has received expressions of interest from potential investors.
Jerry Moyes said a potential sale of the team is under review.
In a media release, the team said Moyes will continue conversations with potential investors to enable the Coyotes to retire debt and obtain working capital, which will reduce Moyes's ownership percentage in the team.
The team said Moyes and managing partner/head coach Wayne Gretzky have had discussions with potential investors interested in joining them and continuing the team's presence in Glendale, Ariz.
Moyes said he met with Glendale city management, who expressed strong support for the team and whose assistance would contribute to helping the Coyotes operate on a positive cash flow basis.
Moyes said he will have no further comment until the investment process has been concluded.