Found September 24, 2009 on The Biz of Hockey: Yardbarker Blogger Network
THIS IS BREAKING NEWS... Mired in bankruptcy court, ownership transfer and possible relocation, Wayne Gretzky has stepped down as head coach and director of hockey operations of the Phoenix Coyotes. According to NHL.com, last season, the Coyotes were fifth in the Western Conference at the All-Star break, but lost nine of its first 10 games after the break and finished 14th in the conference. They haven't made the playoffs since the 2001-02 season. Gretzky is also a minority owner in the Coyotes and has been looking to recoup the massive losses that the Coyotes have been incurring, including $60 million last year, alone. In counrt filings, Gretzky claims that he is owed more than $9.3 million. Gretzky released the following statement on his website: “This was a difficult decision that I’ve thought long and hard about. We all hoped there would be a resolution earlier this month to the Coyotes ownership situation, but the decision is taking longer than expected. Sin...
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