Wayne Gretzky is stepping down as coach of the Phoenix Coyotes, a source told sportsnet.ca.
An official announcement is expected today.
Gretzky's role as head coach and a managing partner with the beleaguered franchise has been in dispute since the franchise was placed into bankruptcy court. He reportedly earns $8 million annually from the dual roles and neither of the bidders - the NHL and Jim Balsillie's group - want to assume responsibility for it.
Gretzky has been absent from the team's training camp as the dispute goes on, with Ulf Samuelsson taking over in an interim role with assistance from veteran Dave King, who was hired on Monday.
The NHL is offering to buy the club for $140 million US and keep it in Glendale while it finds another local buyer, while Balsillie has offered $240 million on the condition that he can eventually move it to Hamilton.
The team's future was up before Judge Redfield T. Baum's bankruptcy court in Phoenix yesterday, with Balsillie revising his offer and promising to keep the club in Glendale for the current season.
An official announcement is expected today.
Gretzky's role as head coach and a managing partner with the beleaguered franchise has been in dispute since the franchise was placed into bankruptcy court. He reportedly earns $8 million annually from the dual roles and neither of the bidders - the NHL and Jim Balsillie's group - want to assume responsibility for it.
Gretzky has been absent from the team's training camp as the dispute goes on, with Ulf Samuelsson taking over in an interim role with assistance from veteran Dave King, who was hired on Monday.
The NHL is offering to buy the club for $140 million US and keep it in Glendale while it finds another local buyer, while Balsillie has offered $240 million on the condition that he can eventually move it to Hamilton.
The team's future was up before Judge Redfield T. Baum's bankruptcy court in Phoenix yesterday, with Balsillie revising his offer and promising to keep the club in Glendale for the current season.