The NHL has given the green light to the Arizona Coyotes sale and move to Utah, the league said on Thursday.
The franchise was bought by Ryan and Ashley Smith of Smith Entertainment Group, who also own the NBA's Utah Jazz and will play at the basketball team's Delta Center in Salt Lake City.
The Utah team has yet to decide on a name but the deal does include all the hockey assets of the Coyotes -- meaning the existing players and coaching staff will move to Utah.
Arizona had struggled to find a suitable arena but as part of the deal, owner Alex Meruelo retains the name and record of the Coyotes franchise and has a five-year window to try to build a venue and create a new team.
Ryan Smith said he was confident the new team would draw big crowds and be competitive from the outset.
"The one thing I do know about Utah is, people show up. We just had the NCAA Tournament here for basketball, and the entire arena was full," he said.
"It's just different here. I mean, (the Jazz have) 291 straight sellout games at the Delta Center. I think every concert that's come into town has sold out. It's just what we do. We show up. I have a lot of faith in the people of Utah."
NHL commissioner Gary Bettman said he was delighted for the league to move into a new state.
"As everyone knows, Utah is a vibrant and thriving state, and we are thrilled to be a part of it," he said.
"We are also delighted to welcome Ashley and Ryan Smith to the NHL family and know they will be great stewards of the game in Utah. We thank them for working so collaboratively with the league to resolve a complex situation in this unprecedented and beneficial way."
The Coyotes began as Phoenix Coyotes in 1996 taking over and moving the Winnipeg Jets from Canada.
Media reports said Meruelo received $1 billion as part of the sale and relocation.
"This is not the end for NHL hockey in Arizona," said Meruelo.
"I have negotiated the right to reactivate the team within the next five years, and have retained ownership of the beloved Coyotes name, brand and logo. I remain committed to this community and to building a first-class sports arena and entertainment district without seeking financial support from the public," he added.
Bettman said that the NHL was behind that effort.
"The NHL's belief in Arizona has never wavered. We thank Alex Meruelo for his commitment to the franchise and Arizona, and we fully support his ongoing efforts to secure a new home in the desert for the Coyotes. We also want to acknowledge the loyal hockey fans of Arizona, who have supported their team with dedication for nearly three decades while growing the game," he added.
