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Phoenix Coyotes Most Likely Sports Team To Collapse

Web site 247WallSt seems to think the Phoenix Coyotes are in pretty bad shape. On their seven teams most unlikely to survive their current financial situation, the Coyotes are tops on the list. You can see why after the jump.

The Coyotes are one of the newest teams in the NHL, having moved from Winnipeg in 1996. According to Forbes, the Phoenix franchise is the least valuable in the NHL, worth just $134 million as of 2010. In contrast, the New York Rangers are worth more than three times as much.

Between 2001 and 2010, the Coyotes lost money every single year, or a grand total of $118 million in losses over a nine-year period. In 2009, the losses were so high that the team declared bankruptcy.

Eventually, the NHL ended up buying the team. Despite the fan draw of coach and hockey legend Wayne Gretzky, as well as making the playoffs two years in a row (after missing them six seasons in a row), attendance remains low.

Bad attendance despite having good teams and a famous owner? This team doesn't seem like it has a chance of making it that far if things start turning the wrong way on the ice rink.

Could the Coyotes move? It seems like it's very likely if they plan on making it much longer in the league.

For more on the Coyotes, go to Five For Howling.