The NHL must be content to keep losing money—the projected loss this year is $20 million—in the sinkhole it calls the Phoenix Coyotes.
In the latest development—currently not mentioned on the NHL's official Web site—the league wants to sue the team's old owner, Jerry Moyes, for $61 million to recoup some of the losses incurred by the team.
That sum is broken into sections: $30 million for violating a league agreement by refusing to fund the Coyotes obligations; $10 million for violating his duty to the league; $10 million in punitive damages; and $11.6 million to cover amounts the NHL paid to Coyotes creditors.
Naturally, Moyes plans to countersue.
In reviving a dormant conflict, the NHL doesn't seem to be worried about what effect this new lawsuit might have on inv ...
Read Full Article at Bleacher Report - NHL
Article written by Steve Thompson
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