S.F. Bulls hockey team could fold or move soon

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After losing $2 million last season and facing projected similar losses this season, the San Francisco Bulls minor-league hockey team could fold as soon as next week.

Bulls head coach Pat Curcio told The Chronicle on Monday that there is a pending agreement with a new ownership group that would save the Sharks-affiliated franchise but would relocate the team - which is a member of the ECHL - to Oakland or Fresno. The deal hinges on league approval and a different venue; ECHL meetings are Wednesday in Philadelphia. Curcio cannot name the potential owners because of a nondisclosure agreement.

With the Bulls folding or moving and the 49ers moving to Santa Clara, the Giants will be the only pro sports team in the greater city area; the Bulls play at the Cow Palace in Daly City, on the border of San Francisco.

"If anyone can save us ... I don't know what to do," said Curcio, who put together an ownership group to bring pro hockey back to San Francisco in 2012 only to have investors withdraw as losses mounted. "I want to do what's best for the city, the league and the Sharks. But we may have to cease operations next week if we don't finalize this deal. It's devastating."

The ECHL team would stay in the Bay Area only if the Warriors agree to allow the Bulls to play at Oracle Arena, according to Curcio. The Bulls would reschedule all of their games to avoid any conflicts, but the Warriors have first right of refusal to share the arena and have shown no inclination to do so.

Curcio said the Cow Palace has been a major problem for the Bulls. The team pays all of its expenses at the building and made numerous upgrades, including putting in a new ice system and scoreboard. The arena and the team split concessions and parking, and the Cow Palace gets a cut of ticket sales. The state-owned Cow Palace was unwilling to explore new terms, however, with the Bulls on the brink of defaulting, Curcio said.

"Why not help us out, get us back on our feet and then make revenue when it comes?" he said. "That's the final nail in the coffin."

The San Francisco Bulls, who play their ECHL home games at the Cow Palace, lost $2 million last season and are struggling financially this season. The San Francisco Bulls, who play their ECHL home games at the Cow Palace, lost $2 million last season and are struggling financially this season. Photo: Sam Wolson, Special To The Chronicle Photo: Sam Wolson, Special To The Chronicle Image 1 of / 25 Caption Close S.F. Bulls hockey team could fold or move soon 1 / 25 Back to Gallery

Cow Palace CEO Ken Alstott said his understanding was that the team was restructuring its ownership group. Only then would there be the potential of talks about a new contract.

"If it made sense we would," Alstott said, "but it has to be profitable for us or we'd rent the space out for other events. That's part of this industry; things come and go."

Curcio claims that the Bulls have brought the city millions in revenue and the team has created jobs, but, he said, "The costs of doing business in San Francisco are the highest in the league. ... Then you look, and every night, there are 1,000 kids in the stands, watching us and dreaming of being hockey players. You can't put a price on that."

"They're trying to operate a minor-league team in a major-league city," Alstott said. "That's got to be tough. They've been doing their best."

Curcio said he hopes to stay as head coach should the pending agreement with new ownership become final.