Darin Pastor’s 2013 Bid to Purchase the NHL Phoenix Coyotes

 

NHL Phoenix Coyotes pic
NHL Phoenix Coyotes
Image: nhl.com

As CEO of Capstone Affluent Strategies and Capstone Financial Group, Inc. Darin Pastor seeks out undervalued companies with sound operations and significant upside potential. In 2013, Darin Pastor announced the creation of an exploratory committee that included family members and longtime municipal financing professionals, with an aim of assessing the potential acquisition of the NHL Phoenix Coyotes.

Maintaining assets under management of nearly $1 billion, Mr. Pastor saw profit potential for the team, which had a $170 million price tag associated with its sale. Having suffered from poor management, the team had declared bankruptcy in 2009 and was taken over by the NHL at that time. Coach and part owner Wayne Gretzky quit during the bankruptcy proceedings, while owner Jerry Moyes filed a lawsuit.

Despite its history of financial instability, the Phoenix Coyotes were an excellent team that generated community support and fan excitement, and achieved the Western Conference championship in 2012. Mr. Pastor described the team as young and motivated, and the staff as committed to success. He also saw value in the team’s arena venue in Glendale, adjacent to the Arizona Cardinals stadium.

In his proposal, Mr. Pastor emphasized his intention to keep the team in the local area. while working to increase youth participation in hockey in partnership with area sponsors, schools, and non-profit organizations. However, this proposal was ultimately declined by the NHL in mid-2013.

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