That the Phoenix Coyotes are in deep financial trouble comes as a surprise to exactly nobody, but perhaps the extent of that trouble is eye-opening.

Glendale (home of the arena in which the Coyotes play) city manager Ed Beasley told the Arizona Republic that the NHL is now operating the Coyotes' franchise, in addition to just lending it money. This indicates that the Coyotes are unable to pay back the loan to the NHL, in addition to a number of their operating expenses, including paying the city for parking and security costs. There's a lot similar to the Coyotes' plight as to the Montreal Expos before they became wards of the state.

Don't be surprised if discussions of contraction become more rampant as time goes on, not just in Phoenix, but perhaps elsewhere as well.