The goalie situation might be the most challenging one. Burke has been outstanding this season. His 2.01 goals-against average and .930 save percentage are career bests for the 34-year-old netminder, and compare well with Khabibulin's 2.13 GAA, .923 save percentage and eight shutouts from two seasons ago.

Therein lies the dilemma. Burke is on the downside of a long career, while Khabibulin, 28, is on the upswing despite a protracted contract holdout that kept him sidelined from the NHL for nearly two seasons.

If Gretzky goes with youth as the best long-term solution and trades Burke, the possible expense would be to disrupt the team's chemistry and would remove a dependable player.

"Khabibulin will be high on our list, and we want to talk to him," Gretzky said during a conference call after Steve Ellman's ownership group completed the purchase of the Coyotes from Richard Burke.

"We'd like to sign Khabibulin. But I think that Sean Burke might be the most valuable player in the whole league this year. But we also realize that Khabibulin is a fabulous goaltender and a goalie we would like to sign."

Sounds like the Great One has a difficult call on his hands.

Off-ice issues
When Smith and former owner Richard Burke wouldn't allow Gretzky in the Coyotes' locker room earlier this season, it was widely assumed Smith would lose his job within minutes of Gretzky's tenure. But that sentiment has quieted, and the thought of eating the remainder of Smith's $2 million salary might prompt an extended stay for Smith – not to mention that he's done a pretty good job building a competitive team.

Gretzky has Fletcher as his appendage, and rumors persist that, somehow, Mike Barnett – Gretzky's long-time agent and friend – might resurface with the Coyotes. In mid-October of last year, Barnett turned down Gretzky's offer to become GM of the Coyotes to continue being an agent.

"One thing I learned in my career is that it's always good to hire good people with a lot of professionalism and experience," Gretzky said.

Hiring people he trusts and then trusting them to do their jobs will be Gretzky's method of management.

"I'm not the president. I'm not going to be the coach, not the GM," he said. "I own a piece of this team. My knowledge will be my forte."

Gretzky made it clear Thursday night that people will be added to the organization immediately. Although some current Coyotes employees will lose their jobs, it might not happen right away.

Trimming the salary tree
By Ellman's calculations, the Coyotes are going to lose about $20 million this season. Although he doesn't expect to lose nearly that much in the future, the team's future earning capacity is severely limited until the team gets a new arena.

In the interim, there are several things that can offset the losses. One is trimming salaries. Tkachuk and Roenick account for roughly one-third of the team's $30 million-plus payroll. Trading them saves money, but it also compromises some of the Coyotes' competitiveness and drawing power.

"Our only goal and objective is to win the Stanley Cup," Gretzky said. "Anything we can do to help build a championship team, we are willing to listen to."

Gretzky will get a lot of offers, especially for Tkachuk, who is that rare power forward coveted by several contending teams. However, since it's so late in the season, much of the payroll has been paid out. Offers might be too good to refuse, especially if Phoenix simultaneously adds younger talent while saving money. But Gretzky could stand pat and try to win a playoff series for the first time in Phoenix, which would be a great public relations move and could help turn the tide in the negotiations for a new arena.

Dealing with the other Lemieux
Gretzky admitted Thursday he hadn't seen Claude Lemieux's deal, and all he knew was that Lemieux was currently under contract. Gretzky refuted reports that a three-year contract was all but sealed with Lemieux.

Having said that, Gretzky made it clear Lemieux would be rewarded for sticking things out in Phoenix and playing for what amounts to peanuts in the professional sports world.

"Obviously, we're going to sit down with Claude and make him happy," Gretzky said.

So, Gretzky has plenty on his plate right now. And no one knows for sure what he'll do or when he'll do it. One thing is for sure, he won't follow fellow legend Mario Lemieux and stage a comeback. But Gretzky didn't hesitate to point out that practice was an entirely different matter.

"I'm probably going to practice a little bit," said Gretzky, who added that playing with the best players in the world is a lot more fun than regular pick-up hockey.

Brian A. Shactman covers the NHL for ESPN.com. He can be reached at brian.shactman@espn.com.