On December 23, the Toronto-based The Globe and Mail newspaper reported that the Phoenix Coyotes team was receiving financial assistance from the NHL in the form of advances on League revenues.
The Coyotes have pledged all of their assets to New York company SOF Investments LP to cover an estimated debt of $80 million.
One of the team's owners, Jerry Moyes' principal source of revenue, Swift Transportation, is also in financial difficulty.
If no investors are interested in keeping the team in Phoenix, Kansas City, Winnipeg or Hamilton will likely be healthier destinations for the franchise to relocate.
ESPN also reported that Moyes wants to sell his share of the team and that Hollywood producer Jerry Bruckheimer is a possible interested purchaser.