NHL Morning Coffee Headlines – July 18, 2018
Coyotes owner looking to sell a portion of the franchise, an update on Tom Wilson plus the latest contract signings and more in your NHL morning coffee headlines.
FORBES.COM: Mike Ozanian reports multiple sources claim Arizona Coyotes owner Andrew Barroway is looking to sell 49 percent of the franchise for an estimated $500 million. That figure includes “working capital to cover current losses as well as capital calls (money investors put into the team in subsequent years to cover operating losses).” Ozanian cites one source suggested the deal was “being presented would give the new investor a path towards control, if not immediate control” of the money-losing franchise.
SPECTOR’S NOTE: In Forbes’ annual evaluation of NHL franchises, the Coyotes were estimated to be worth $300 million last year. Ozanian said we should be skeptical if this deal is announced as $500 million as that’s not “a true sale price in the sense of an enterprise value.”
I’m doubtful Barroway will get $500 million for 49 percent of a franchise that’s been bleeding money for years. Then again, the Coyotes have proven to have more lives than a cat. Maybe he can find a new co-owner who can one day become majority owner.
THE WASHINGTON POST: Contract negotiations between the Capitals and restricted free agent winger Tom Wilson are ongoing but his agent claims they’re not close yet to a deal. Wilson passed on salary arbitration so it’s unclear how long talks could drag on.
The Capitals have roughly $8.2 million in cap space. Some have estimated Wilson’s new deal could come in between $3.5 – $4.5 million per season.
SPECTOR’S NOTE: As per Cap Friendly, Vesey’s deal is worth $4.55 million with an annual salary-cap hit of $2.275 million.
NEWSDAY: The New York Islanders and defenseman Ryan Pulock have agreed to a two-year contract.
SPECTOR’S NOTE: Cap Friendly reports the new deal is worth $4 million, with an annual average value of $2 million.
NORTHJERSEY.COM: The New Jersey Devils re-signed forward Blake Coleman to a three-year contract worth an annual average value of $1.8 million and forward Stefan Noesen to a one-year, $1.725-million deal.
LAS VEGAS REVIEW-JOURNAL: The Vegas Golden Knights and Tomas Nosek avoided arbitration as he agreed to a one-year, $963K contract.
THE NEWS & OBSERVER: The Carolina Hurricanes have hired Dean Chynoweth as an assistant coach.
TVA SPORTS: After a decade in the NHL, free-agent forward Torrey Mitchell is joining Lausanne of the Swiss National League A.
More awful news this morning. Former #Sens Director of European Scouting 2008-2017 Vaclav Burda passed away at age 45. Burda was with organization for 13 years. Claesson, Jaros, Lehner, Silfverberg, Zibanejad among those drafted during his tenure. https://t.co/zRcGwrF43v
— Murray Pam (@Pammerhockey) July 17, 2018