Bankruptcy filing and Phoenix Coyotes 0
The Phoenix Coyotes are a stellar jockey side. They are doing really well and it seems as they would also be earning lots for their hockey franchise. But this does not seem to be the case as the company is not able to prevent itself from getting into bankruptcy filing. It is said that the Coyotes are not worth the $160 million that they were said to be worth, and they are not expected to get ay support or help from the banks too. Loans are hard to come by as banks and financial institutions are wary and are questioning the actual net worth and the value of the sports franchises. These are not happy times or a rosy picture which are leading to problems fro the company to a very large extent.
It seems that even success is no guarantee of financial solvency as the company has gone in for Chapter 11 bankruptcy filing which is something that is saddening and amazing too. All of this is because it is a very bad time to sell any sports franchise. There are just no buyers and even lenders are backing away as they feel that the sports franchises are overvalued and over hyped. This has so many sports franchise owners worried stiff.
subscribe to comments RSS
There are no comments for this post