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Wayne Gretzky Makes Big Bucks if Balsillie Buys His Phoenix Coyotes

Published by on May 6, 2009
Article Source: Bleacher Report - NHL

If Jim Balsillie buys the bankrupt Phoenix Coyotes and moves them to Hamilton, Ontario, Canada, Wayne Gretzky could wind up coaching half an hour away from his old hometown and he could make millions on the deal.

Gretzky is not only the team’s coach, he is a minority owner. He could get an $8 million payment for deferred compensation under Balsillie’s offer to buy the Coyotes out of bankruptcy, according to the Wall Street Journal.

The Coyotes filed for Chapter 11 bankruptcy protection Tuesday. The team has lost $73 million the last three seasons, and its majority owner is no longer willing to subsidize its operating losses, the Wall Street Journal reports.

“The Great One,” could ...

Read Complete Article at Bleacher Report - NHL
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