Gretzky Resigns From Phoenix Coyotes

In a move that has been anticipated since he went MIA at the start of the Phoenix Coyotes’ training camp, Wayne Gretzky resigned from his position of head coach of the team.

Gretzky’s departure was a near certainty given the ongoing court case over the future ownership of the franchise. Neither Jim Balsillie nor the NHL has included Gretzky in their bids for the team. Gretzky’s current contract is rumoured to be worth up to $8.5 Million per season and neither party wanted to take on Gretzky’s contract going forward. In Balsillie’s case, Gretzky did not want to move from the Phoenix area to Hamilton under Balsillie’s proposed plan.

It’s interesting to note that only the proposed bid of Ice Edge Holdings included keeping Gretzky on board in any capacity. Jerry Reinsdorf didn’t get far enough in the process to indicate whether he would keep Gretzky on board or not.

There is a historical irony that will come out of this, though. The greatest player in hockey history has been forced out of the NHL by the worst franchise in hockey history. You think that a smart business man like Balsillie or someone in the NHL would try to keep Gretzky on as an ambassador. I guess the NHL isn’t that forward thinking.

Ulf Samuelsson was originally rumoured to be getting promoted from associate coach to head coach. However, recent rumours have former Dallas Stars coach Dave Tippett stepping into the hot seat.

Murky Details Around Phoenix Coyotes Bankuptcy

More details have emerged surrounding the bankruptcy filing by the Phoenix Coyotes on Tuesday. The NHL appears to be caught off guard by the bankruptcy petition and for good reason. It is believed that the league may have taken over operations of the team earlier in the year. Continue reading

Phoenix Coyotes Declare Bankruptcy

Breaking news this evening.  The ownership group of the Phoenix Coyotes have filed for Chapter 11 bankruptcy.  The bankruptcy filing also included a proposed sale to a group called PSE Sports & Entertainment, LP.  The sale would involve the team moving to southern Ontario.

Say it with me: “Ladies and gentlemen, here is the starting line-up of your Hamilton Blackberries…”

For more details, click here.

UPDATE: The National Post confirms that RIM CEO Jim Balsillie is part of the PSE bid.

READ MORE: Murky Details Around Phoenix Coyotes Bankuptcy