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The Coyotes are in Chapter 11 bankruptcy reorganization and owner Jerry Moyes has a deal in the workes to sell to Canadianb businessmanJim Balsillie, who wants to move the team to Hamilton. The National Hockey League and city of Glendal e opposethat move. If the Coyotesa move to Canada, Gretzky has said he won’rt accompany the team. That could mean a $22 million payout in deferred compensation for who is part owner ofthe Coyotes. If a buyer is found to keep the team in Gretzky still could be out of hiscoachingy job. The Coyotes haven’t made the playoffs since 2002 that record remaining unchangedunder Gretzky’xs watch, which began in 2005.
If the team stayx in Glendale and he keepshis job, Gretzku also could get hit according to bankruptcy court Gretzky earns about $8 million annually from the Coyotesz via his $1.6 million salary as coachh and other compensation as part owned of the hockey team, according to a legalp brief penned by Gerald Sheehan, a principal with professionaol sports financial firm Beacon Sports Capital Partners LLC. Sheehan also suggests a new ownerreducew Gretzky’s compensation down to $2 million. He also suggestd other cost-saving measures, including moving offices from leasex spaceto Jobing.com Arena.
Revenue also couldd be increased by boostingtickegt sales, sponsorships and suite sales and more non-sportingg event bookings at the arena, whichb the Coyotes lease from the city of Glendale.
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