The Hockey Stop

New developments over the weekend have added more intrigue to the soap opera starring the Phoenix Coyotes.

Not only is a new group planning an offer for the bankrupt franchise, but the team's head coach, minority owner and creditor Wayne Gretzky has been dragged into the legal battle being waged over the Coyotes' future in Arizona.

The group of Canadians and Americans would keep the team in Phoenix -- satisfying the NHL's desire not to relocate the franchise. The league opposes the initial $212.5 million bid by Canadian billionaire Jim Balsillie because he stated he would move the team to Hamilton, Ontario. Instead, commissioner Gary Bettman is backing a $148 million bid by Chicago Bulls and White Sox owner (and part-time Arizona resident) Jerry Reinsdorf, who plans on keeping the team in The Grand Canyon State.

The news regarding The Great One involves the City of Glendale requesting the tax records of the former Edmonton Oilers and L.A. Kings star because they believe as a creditor owed $9.3 million that Gretzky is being overpaid and thus Glendale would like to strike him as a creditor.

Gretzky's lawyers argue that his financial privacy is protected as a California resident and that his income tax returns aren't relevant to the sale of the Coyotes.

Despite the Coyotes not being profitable since they moved from Winnipeg to Phoenix in 1996, I believe the franchise should stay in Arizona.

Phoenix is the 12th-largest metropolitan area in the United States with over four million residents and has proven itself capable of supporting other professional franchises that have in turn become profitable. The Diamondbacks, Cardinals and Suns all operate in the green. Of course, winning the World Series (2001) and going to the Super Bowl (2009) helps.

One week ago Coyotes fans started an online petition to support keeping the team in Phoenix. So far, 446 people have signed the petition with a goal of 1,000 signatures. The petition includes a letter to bankruptcy court Judge Redfield T. Baum pleading for him to approve the sale to Reinsdorf. Here is an excerpt:

"Throughout this bankruptcy case, you have heard from the Creditors, the Debtors, the current Owner, the Stalking Horse Bidder and the National Hockey League. There is one group you have not heard from directly, though you have mentioned us several times during the court proceedings: the fans in Phoenix. We too are investors in this team; we invest not only our money on tickets but our time, our energy, our heart and our soul. Under the guidance of General Manager Don Maloney, the team has started the effort of rebuilding. We believe that our team is on the verge of something great. To lose them now after all we’ve endured and have to watch them succeed in front of a new fan base would simply be devastating."

If Phoenix fans keep making their collective voices heard loud and clear, the Coyotes will stay in Phoenix where they belong.