Report: Montreal businessman Stotland leads bid for Coyotes

Canwest News Service

Published: Wednesday, November 25, 2009

Another Canadian has reportedly entered the picture in the purchase of the Phoenix Coyotes.

Robert Lang #20 of the Phoenix Coyotes and teammates on the bench celebrate a goal against the Dallas Stars on November 14, 2009 at Jobing.com Arena in Glendale, Arizona.

Robert Lang #20 of the Phoenix Coyotes and teammates on the bench celebrate a goal against the Dallas Stars on November 14, 2009 at Jobing.com Arena in Glendale, Arizona.

Photograph by : Getty Images

ARTICLE TOOLS

Font:
AddThis Social Bookmark Button

According to a report by the Globe and Mail, Montreal businessman Steve Stotland is spearheading an Arizona group of investors that is interested in buying the team from the National Hockey League, with the intentions of keeping the franchise in Glendale, Ariz.

Stotland told the newspaper that the team "has been with an ownership group that is telling people that hockey doesn't work in the desert. Now that the bankruptcy is done and the NHL owns the team, we're going to move forward."

The story goes on to say that Stotland was involved in a group of investors interesting in purchasing the Montreal Canadiens in 2000 as well as earlier this year.

NHL deputy commissioner Bill Daly confirmed to the Globe that they have been in contact with Stotland.

"I can confirm that we've had discussions and we continue to be in contact," Daly told the paper. "I know he's done due diligence and met with the team and that's the extent of it. He seems to be excited by the prospect of owning the team and we'll see where it goes."

The NHL took control of the Coyotes earlier this month, when Arizona bankruptcy Judge Redfield T. Baum approved the league's offer of $140 million US for the bankrupt franchise.

After the approval was announced, the league quickly said it would be looking to flip the team to an owner or ownership group wanting to keep the franchise in Arizona.

"We're not in there for one year. We're committed," Stotland told the Globe. "But the financial agreements have to be reasonable because the NHL doesn't want a local group to go through the same thing the last owner did. I want to show the NHL is viable in Glendale."

 
 
 
 
 

your comments
HaHaHa
Wed, Nov 25, 09 at 01:41 PM
This the day after it was reported that the team lost at least $5M in the first month of the season and that the team's projected losses for this season are approx. $50M. So we have "potential" buyers who wish to keep the team in Phoenix? Sure just like Michael Heisley wanted to keep the Grizzlies in Vancouver. Las Vegas Slots ready to play for the 2010/11 season.
Dave
Wed, Nov 25, 09 at 02:58 PM
Stotland says he is commmited . Well, I think he should be commmitted and you know where . It never ceases to amaze me that smart business men are content to pour money down the drain,in this case a boat with no bottom, and keep in in Arizona. They are complete morons, or they have pictures of Bettman with a goat. Either way madness and money don't mix
RE:HAHAHA& DAVE
Wed, Nov 25, 09 at 10:08 PM
" SO TRUE GUYS !"
Add Your Comment
 
Your Name
 
Your Comment
 
 
The Rules:
 
Keep it clean, and stay on the subject or we might delete your comment. If you see inappropriate language, e-mail us. You must have a javascript enabled browser to submit a comment.
 
 
 

Who is Canada's biggest threat?

Dave Waddell and Elliott Pap go head2head.

 
 
 
 
 
 
 

past head2head

 

Debating the deals

Wayne Scanlan and George Johnson go head2head.

 

Canadiens goalie situation...

Dave Stubbs and Pat Hickey go head2head.

 

Two views on head injuries...

Cam Cole and John MacKinnon go head2head.