The Arizona Coyotes have received unanimous approval from the NHL Board of Governors for a $1.2 billion sale to Utah Jazz owners, Ryan and Ashley Smith. This decision paves the way for the franchise to move to Salt Lake City starting next season. As part of the deal, Arizona has the potential to receive an expansion team if a new arena is constructed within the next five years.
Ryan Smith expressed his belief in Utah as a thriving hockey town and highlighted the strategic fit of bringing the Coyotes to the region. The sale includes a $200 million relocation fee to be paid to NHL owners, with Smith set to oversee the franchise's hockey operations.
Current owner Alex Meruelo will retain business operations in Arizona to secure land for a new arena in north Phoenix. Meruelo also maintains ownership of the Tucson Roadrunners, the Coyotes' AHL affiliate, with plans to relocate them to Mullett Arena, the team's temporary home shared with Arizona State University.
The NHL Commissioner, Gary Bettman, commended Meruelo's commitment to the franchise and Arizona, emphasizing the league's continuous support for the region's hockey fans. The Coyotes' name, logo, and trademark will remain with Meruelo, necessitating a rebranding by Smith's group for the team's Utah debut.
The sale marks the end of the Coyotes' prolonged search for a permanent home, having moved from Winnipeg to Glendale and then to Mullett Arena. Meruelo's decision to sell the team was driven by the need for a suitable arena for NHL hockey, with plans for a new facility and potential expansion team in the future.
The Coyotes bid farewell to Arizona with a victory over the Edmonton Oilers, as players and fans shared emotional moments. Salt Lake City officials and the city's 2034 Olympic bid team have welcomed the arrival of NHL hockey, envisioning a positive impact on the community and downtown core.
This transition signifies a significant milestone for both the Coyotes franchise and Salt Lake City, ushering in a new era of professional hockey in Utah.
