GLENDALE, ARIZONA –- Is it death by a thousand cuts, or just a "President’s Day Sale" as the Phoenix Coyotes suggest?
However you see it, as the stretch run in the National Hockey League begins, the Coyotes announced this week they have slashed ticket prices for six of their 12 remaining home games between Monday and April 2.
The cash- and fan-strapped club announced this week that ticket prices for those Monday and Thursday night games, beginning with Monday’s home game against the Edmonton Oilers, will be cut by as much as 40 per cent.
Coyotes owner Jerry Moyes is actively seeking investors in his flagging club, a task the NHL is aiding him with. The team lost $30 million last season, and mounting losses since the club moved from Winnipeg in 1996 are gauged at around $200 million.
Coyotes CEO Jeff Shumway recently resigned, and belts have been tightened throughout the organization.
The Coyotes have just over $10 million in cap space heading into the deadline -– only Los Angeles, Nashville and Atlanta have more. It is not expected, however that the team will exercise that option by adding salary at the March 4 deadline, despite the fact they are three points out of a playoff spot heading into Thursday night’s game against eighth-place Vancouver.
The club has missed the playoffs for five consecutive seasons, and has never won a playoff round since relocating to the desert.