Coyotes confirm several layoffs
The Arizona Coyotes laid off staff on Friday, the NHL organization confirmed to The Arizona Republic.
The team said in a statement that the layoffs were necessary because of the team’s financial problems caused by the COVID-19 pandemic.
“These are incredibly challenging times for everyone, and we’ve had to make some extremely difficult decisions,” the team wrote.
“Today, we reduced our operations to help us deal with this unprecedented health and financial situation. We care deeply about all our team members and understand the impact this will have on them and their families. We sincerely appreciate all their contributions to our organization. Unfortunately, these moves are necessary for us to endure this crisis and remain financially resilient for the longterm.”
The team declined to answer specific questions about the number of employees let go, or what positions they were in.
The Coyotes majority owner is Alex Meruelo, a billionaire who owns the Meruelo Group, a construction and real estate development firm.
“Like many companies, the Arizona Coyotes and the Meruelo Group continue to be greatly impacted by the COVID-19 pandemic,” the team wrote in its statement.
Coyotes the latest to announce layoffs
Meruelo Group becomes just the latest professional sports ownership group to announce furloughs and layoffs amid the pandemic.
Earlier this week, Monumental Sports & Entertainment, which owns the Washington Capitals, Washington Wizards and Washington Mystics, planned to furlough 232 employees, according to The Washington Post.
The move comes after the Coyotes team furloughed half of its business staff in April.
The Coyotes list about 108 business employees on its website, including in ticket and suite sales, marketing and communications, corporate partnerships, and other administrative functions. That doesn’t include the about 58 staff members in hockey operations and the executive staff.
Meruelo planned to bring more stability
Along with the Meruelo Group, Meruelo owns casinos in Las Vegas and Reno, Nevada. Those industries have been among the hardest hit during the pandemic.
Meruelo purchased a 95% stake in the Coyotes last summer, promising to bring stability to a franchise that has had numerous ownership changes in recent years.
The Coyotes made the Stanley Cup Playoffs this season for the first time in 2012.
Invited to compete in an expanded postseason due to the pause of the 2019-20 regular season in March, the Coyotes defeated the Nashville Predators in the qualifying-round series but were eliminated on Wednesday after losing to the Colorado Avalanche in the round of 16.