The NHL has taken control of the financially troubled Phoenix Coyotes, according to a report Wednesday on the Arizona Republic's website.

Ed Beasley, the city manager in Glendale, Ariz., told the Republic that the league actually took over the Coyotes in February, when it lent the team money to keep it in business.

The Coyotes have had trouble paying their bills recently — including rent, parking fees and security costs owed to Glendale in connection with the use of Jobing.com Arena.

"The NHL is in charge of the team right now," Beasley told the newspaper. "We have assurances from the NHL the money will be paid .… We are sitting down with the NHL and working confidentially with them, and the city expects to be paid in full."

While the NHL has lent money to several teams in the past, assuming control of a team is a move rarely seen in professional sports.

Canadians may remember the Montreal Expos being taken over by Major League Baseball earlier this decade.

As part of the loan agreement with the Coyotes, the NHL had the right to take over the franchise if the loan was not paid.

"We have been told from the NHL that they are responsible for the team," Beasley said.

It's not clear exactly what role the NHL is playing in the operation of the Coyotes. The status of majority owner Jerry Moyes is also unknown.

Moyes bought the Coyotes in 2001, five years after the team — then known as the Winnipeg Jets — moved from Winnipeg. He has been looking for new investors amid reports that the team is losing upwards of $20 million US a year.