Buying the Phoenix Coyotes

The Phoenix Coyotes are filing for bankruptcy. There are several possible buyers who have put in offers for the team in its failing state, wanting to attempt to recover the team. One buyer wanted to move the team to its old location, near the Montreal Canadians and the Toronto Maple Leafs. This buyer was overturned when the league stepped in and enforced that the team was not changing locations. A second buyer wanted to completely restructure the organization. This forced Wayne Gretzky, the team's head coach, to publicly state his stepping down from the coaching staff. Currently the team is still on the market and is still awaiting a new owner to help the team get out of their failing slump.