April 19, 2024 7:31 am
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Ice Arizona reports $34M in losses

Screen Shot 2015-03-24 at 6.09.35 AMBy Darrell Jackson | The Glendale Star

After being delayed for nearly half a year, Ice Arizona released their operating budget for the Arizona Coyotes to mixed news about the finances of the team.

Team president and CEO Anthony LeBlanc reported that the team lost $16.48 million, but for Generally Accepted Accounting Principles (GAAP), it had to report its one-time acquisition and closing costs of purchasing the team ($7.87 million) along with the buyout of Mike Ribeiro’s contract ($10.49 million), which brings the team’s total losses to $34.831 million during their first year of operation.

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