Losses mount for Coyotes

QMI Agency

, Last Updated: 5:11 PM ET

Prospective Phoenix Coyotes owner Matthew Hulsizer says the team has lost $40 million this season, pushing up his purchase price for the franchise.

The losses, combined with $30 million in losses last season, when the NHL was responsible for the bottom line, has pushed the value of the transaction to $210 million, the Arizona Republic reported.

Hulsizer’s actual purchase price was previously reported to be $140 million, which is what the league paid to buy the team out of bankruptcy.

Team officials told the Republic this season’s losses could still be reduced with a strong finish.

Meanwhile, NHL deputy commissioner Bill Daly has told Yahoo Sports a planned lawsuit by the City of Glendale against the Goldwater Institute won’t affect the sale of the Coyotes to Hulsizer.

Glendale is suing Goldwater for interfering in a bond sale which was supposed to raise $100 million towards Hulsizer’s bid, saying threats of a Goldwater lawsuit have stalled the sale.

If the bond sale remains stalled, it’s believed the sale to Hulsizer could go off the rails as early as this week, opening the door for the NHL to look at Winnipeg as a potential relocation site.

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