It was a brand new hockey market when they first moved to AZ, and they (the league and the revolving door of owners) completely failed to do what any business has to do when entering a new market: create a comprehensive entry strategy that takes into account the unique challenges of the local market. They didn't even bother with that at all, they just plopped the team down in Glendale like it was a McDonalds franchise. Oh sure, they parachuted Gretzky in as coach to make a splash, and when that didn't work (surprise!), they just let the Coyotes limp along as a poorly run, extremely neglected product on life support.
Hockey in Arizona, or any new market, is only a "bad business model" if you're going to run the team like you don't care.
except AZ WAS supposed to be a hockey market..Pro teams at every level for most of the last 57 years.
And The narrative of "just letting it Limp along...is BS. the 'Yotes had more support, money, and input from the league than any team in NHL history.
WHAT HAPPENED is the owners started hemorrhaging money IMMEDIATELY upon relocation.
Because there was no tv money, no Merch sales, no corporate support and Fans wouldn't pay enough for tickets and luxury boxes for the owner to make a profit.
Based on the minimum of 200 million lost between 96 and 2009 (based on the "Hundreds of Millions quote from the 09 bankruptcy) that's losses of 15+ million per year each and every year from 96 to 09.... but estimates of closer to 350 Million were floated at the time... which works out closer to to 26 million in losses per year...
the failure was of the market. not the league, the owners, managers, players, coaches... or even any of the actual AZ actual hockey fans.
It was the market that failed. a market that will always fail...because Phoenix folk don't want HOCKEY...THEY WANT GOLF COURSES.
The snowbirds never did flood the stadium...because after the trip to the outlet mall, or golf or shuffleboard or whatever it is they do in their trailer park retirement snowbird communities? they pop off to denny's for the 55+ meal and home for Jeopardy... zipping out to a hockey game? it's never been on the itinerary.
...it was the entirety of the AZ market that failed. It failed to provide enough fans to pay enough money to support the team.
