Gretzky Resigns as Phoenix Coach

Sports Betting News - September 24th, 2009 - Written by John

Wayne Gretzky's experiment as a coach for now is over. On his website Gretzky.com, the Hall of Fame player posted his intentions to resign as the head man in Phoenix, ending a four-year stint with the team.

"Since both remaining bidders have made it clear that I don't fit into their future plans, I approached General Manger Don Maloney and suggested he begin looking for someone to replace me as coach. Don has worked hard and explored many options. I think he has made an excellent choice, and so now it's time for me to step aside."

The announcement comes on the heels of immense scrutiny reporters have laid on Gretzky. NHL camp is already nine days in and Gretzky had yet to report to the team. He was tending to financial issues the team has been facing for months. The franchise has toiled into purgatory, filing for bankruptcy and dying for a bailout from a new owner.

ESPN reported Canadian billionaire Jim Balsille has been in the running to purchase a majority stake in the team and pledged to keep the team in Arizona were he to win. The NHL has been tentative to award him the team, however, after he admitted that part of the bid includes eventually moving the team to Ontario. The next best option would be the league's $140 million purchase, which would allow the team to remain in Glendale.

Gretzky is a minority owner and was under contract for $8.5 million this season.

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