The Arizona Coyotes are set to be sold to Utah Jazz owner Ryan Smith, with a provision guaranteeing current owner Alex Meruelo an expansion team if a new arena is built within five years.
Vancouver Canucks’ Brock Boeser and Arizona Coyotes ’ Michael Kesselring vie for the puck during the third period of an NHL hockey game Wednesday, April 10, 2024, in Vancouver, British Columbia. TEMPE. Ariz.
Once an arena is built, Meruelo will pay back by the $1 billion and move forward with the expansion franchise.Capitals’ Nick Jensen is conscious and alert after being stretchered off the iceMeruelo and NHL Commissioner Gary Bettman are expected to announce the deal at a joint news conference next week once the deal is completed. Coyotes general manager Bill Armstrongto inform players and coaches of the team’s plans after news of the potential relocation to Salt Lake City were leaked.
Meruelo has been adamant about not wanting to sell the team and rebuffed numerous offers through the years, but is going through with the deal because he felt it was unfair to the players to continue playing in an arena that’s not up to NHL standards, the person said. The uncertainty of the land auction meant the Coyotes couldn’t guarantee a new arena was built, which, given the franchise’s past struggles finding a permanent home, led the NHL to push Meruelo to seek other options.
The team shared then-America West Arena with the NBA’s Phoenix Suns before moving to Glendale in 2003. When an ownership group that included developer Steve Ellman and Wayne Gretzky ran into financial difficulties, the franchise was sold to trucking magnate Jerry Moyes in 2005.
Arizona Coyotes Utah Jazz Ryan Smith Alex Meruelo NHL Sale Expansion Team New Arena
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