I don't think so either, but honestly, they only have themselves to blame for it. They made their own bed.
Last season, ownership (Gary Jacobs, a San Diego real estate developer with no real ties to the Las Vegas community) decided to run things on the cheap. The team fired a good and experienced coach and hired a rookie coach on the cheap and also handed him the GM title. They slashed their budget for player salaries, which resulted in 5 of the team's 6 top scorers and his starting goalie leaving for better money elsewhere. The team replaced them with cheaper alternatives who weren't up to snuff (seriously, did Anthony Perdicaro or Ryan Forgaard have any business playing at this level?). Hell, even the weekly Saturday night radio show on ESPN 920 was dark half the time with no explanation as to why.
As a direct result of this new "cheap" approach, the team was not competitive. As a further result, attendance suffered. I was a season ticket holder in Section 110 and it was sad to watch the crowd size slowly start to dwindle game after game. Surely, the Boyd Gaming brass had their eyes open and said, "Screw it, if this guy wants to run this organization on the cheap, he can do it somewhere else," and that's why they decided not to renew the lease.
Personally, I don't blame them. The math wasn't hard to do:
(1) cheap owner = non-competitive team
(2) non-competitive team = lower attendance figures
(3) lower attendance figures = fewer people in the arena to buy Boyd Gaming's overpriced beer and pretzels, not to mention fewer people stopping by the blackjack table on the way to their car to lose $50
(4) eff it, from a business perspective this relationship makes no sense.