Coyotes, NHL Have Made “Significant Progress” On Salt Lake City Relocation

The Coyotes, in conjunction with the NHL, have made “significant progress” today on an agreement to relocate the team to Salt Lake City and sell the club to Smith Entertainment Group, owners of the NBA’s Utah Jazz, Frank Seravalli of Daily Faceoff reports. The league reportedly sent a memo to its Board of Governors today after a report from Seravalli this morning said the NHL was preparing a contingency plan for a Coyotes relocation, including two distinct schedule matrices. A relocation is not final, but reports indicate the tide is turning that way.

Neither the Coyotes nor the league, who have routinely been quick to respond to developments in their arena saga as they become public, have commented on today’s reports. Subsequent reporting from ESPN’s Emily Kaplan and Greg Wyshynski says the NHL would act as an intermediary between Coyotes owner Alex Meruelo and Ryan Smith’s SEG in a sale, purchasing the club from Meruelo for $1B before selling to SEG at an increased $1.3B. The $300K difference would be split among the league’s other 31 owners as a relocation fee, less than half of the $650MM fee Seattle Kraken ownership paid for an expansion franchise in 2021.

Seravalli says that Coyotes players have possibly “been informed that something of a ’verbal’ agreement is in place to relocate to Salt Lake City” but has “received pushback on that characterization of talks.” Wyshynski reports that the team has not formally informed its players of any sale agreement and that they’re following relocation developments through social media. Regardless, an official announcement on relocation is likely to come before the end of the month, per Kaplan and Wyshynski.

There is no indication that a Salt Lake City relocation would end Meruelo’s bid for a plot of land in north Phoenix that’s set to be awarded at a public auction on June 27. Kaplan, Seravalli and Wyshynski all report that “Meruelo would be first in line to purchase an NHL expansion team should the league decide to return to Arizona,” a decision that would be contingent on a suitably located arena to avoid the attendance issues that plagued the team when they operated out of Gila River Arena in Glendale from 2003 to 2022. Meruelo could also retain the branding and naming rights to the Coyotes franchise as part of this transaction, per Seravalli, which could be applied to an expansion franchise after the north Phoenix plot is developed.

Upon relocating to Salt Lake, the…