The National Hockey League have agreed to repay the money Wayne Gretzky is still owed by the Phoenix Coyotes, reports ESPN.

The Great One has been waiting for the money for four years, owed to him by former Coyotes owner Jerry Moyes.

With no offer for compensation forthcoming from Moyes, the NHL have agreed to cut the cheque to settle the debt.

According to ESPN's sources, the agreed figure will lie between $7m and $8m.

This comes after a number of failures from the NHL to get Moyes to pay the money via a lawsuit.

However, the judge threw out most of the league's claims against Moyes in early October.

As the failure in the lawsuit has caused major delays in the case, the Audit/Finance Committee from the NHL's board of governors agreed to settle Moyes' debt to Gretzky.

The long-standing debt started after the Coyotes went bankrupt in 2009.


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