Oh Lordy.... that revisionist narrative that never goes away.
So let’s clear a few things....
1) Arizona isn’t an “experiment.” It was a last minute landing spot for a former Canadian team that was failing financially at the time and had no where else to go.
2) The league also “bent over backwards” to keep two other Canadian teams who were losing money hand over fist from moving to the US back in the same era.
3) The Coyotes remain in Arizona because there’s still an owner who is willing to keep them there in spite of the situation.
4) Thrashers had owners who.....
a) Never wanted them to begin with. AND....
b) Were never going to allow them to remain in the arena (which they also owned) if they sold them.
Too often inconvenient facts get glossed over for a feel-good narrative (which is sometimes feel-angry/outraged because sometimes people are conditioned to wanting certain emotional buttons pushed, even if they aren't good buttons). Point 1 & 4 seem to get overlooked the most. The Coyotes had to land somewhere on short notice. It was similar with the Pilots/Brewers in baseball after their disastrous debut season in 1969. Phoenix was open and had a willing buyer. The Thrashers were a doomed team as soon as Atlanta Spirit bought the Hawks & arena. They absolutely needed to be relocated in 2011, same situation the Jetsyotes had in 1996 when Minneapolis fell through. The Coyotes had no imminent issues then or now, just the ongoing profitability issue (which led to point 3).
Point 2 gets overlooked, but not as much. Jets & Nordiques got jettisoned, but the Oilers were protected. There's a market difference (4th vs. 8th & 9th in Canada IIRC) which likely played into the league's calculus along with the qualitative value of each team (Oilers 1980s dynasty & history. Oilers looked like one of the big/iconic teams, just as Penguins & Flyers seem to get regarded as more than mere 1960s+ expansion teams, being considered in a class between the Original Six & the expansion teams. I see you mentioned the other team as Ottawa and wasn't as familiar with their relocation threat & timing of it, just that Melnyk's been a circus and had his own health scare (that shocking team photo where his skin was yellow) and the previous owner had a bunch of trouble too, just not as dysfunctional as the Melnyk era.
Point 3 is the only real matter of debate. There are willing owners, but as we've known across this saga, owning/running this team isn't quite like owning/running any other team. As was pointed out a day or two ago, majority owners/team-runners have put in staggeringly low sums to get operational control of the team. The league still has final say over the team, which is why none of the revolving door can seriously choose to relocate the team. It's the NHL equivalent of renting the Coyotes out on AirBNB. They turn the keys over to the owner of the year, biennual period. There are certainly "willing" owners, but the contention is in the "able" part. If this team was subject to normal sale conditions, those willing owners would dry up. We haven't seem the team's books, but we can infer from what we've seen in other details and from the people who looked at but ran away from the team (Reinsdorf) or didn't even bother despite interest at sports ownership that the books look like Medusa.
The league took ownership of the Coyotes way back in 2009 after the owner declared bankruptcy. Why didn’t they do that for Quebec and Winnipeg?
The league has done everything in their power to keep the team on life support.
One thing the Coyotes had that the Nordiques & Jets didn't have (at the time) does relate to national divisions... currency. The US:Canadian currency differential was wide in the 1990s to mid 2000s. This was great for US & tv movie productions to get more out of their budget and utilize a capable support crew (set builders, gaffers, cameramen, etc) & guest star pool of actors without having to go too far from California. A large number of series were filmed up there (the 17 seasons from 3 series in the Stargate franchise, Smallville, Supernatural, 5 seasons of X-Files, Earth: Final Conflict & Andromeda, Kung Fu: The Legend Continues, Highlander half the time, and several shorter-running series) and a bunch of films. It was very bad for Canadian hockey teams in a league dominated by the US Dollar and US teams. So, from one perspective, the US Dollar buying so much in Canada was a very lucrative thing, but from another perspective, it was devastating. And this is just 2 industries (tv/film, hockey). There were obviously a lot of negative effects in other fields too (like imports).
Ironically, around the time of the Coyotes' troubles, it was near parity (US economic spiral, high oil prices). The environment in Canada in the mid '90s was not favorable for bending over backwards as far as has been done for the Coyotes. And as noted above, they did bend the rules for the Oilers to have them stay (the only WHA team they didn't help the owner pack the bags for as they shipped them to the US or further south).
I think the part about Balsillie "poisoning the well" is apt, although not towards inducing the Coyotes fanbase into a zombie-like fatalistic state towards their team. I think it poisoned the well towards any new owner-based relocation of the Coyotes. Balsillie was trying to do a hostile takeover, to buy the team and do what he wanted with it ignoring league rules & procedures, treating it as a pure commodity with no strings attached or processes to follow. It seemed like, even if there was an owner who played ball, did everything by the NHL book, it would be more difficult to sell/relocate the Coyotes that way than for another team because of Balsillie's interference. The only say on relocation will be the NHL for the Coyotes and they have been, are, and seemingly will be keeping the Coyotes in Arizona until they choose not to. No outsider is going to come in and influence this.
BTW. Lucky I copy & pasted saving this before posting or else it all would've been lost by that forced revised terms & conditions consent form. Probably should fix that from occurring.