TEMPE, Ariz. (AP) The Arizona Coyotes are officially headed to Salt Lake City.
The NHL Board of Governors voted unanimously Thursday to approve a $1.2 billion sale from Alex Meruelo to Utah Jazz owners Ryan and Ashley Smith, clearing the way for the franchise’s move to Utah next season.
The deal includes a provision for Arizona to get an expansion team if a new arena is built within the next five years. The deal will be facilitated through the NHL, with $200 million going to league owners as a relocation fee.
“We expressed our interest publicly with the NHL,” Ryan Smith told The Associated Press. “It’s probably been two years where we’ve said, ‘Hey, look, we really believe Utah can be an incredible hockey town.’ You look at all the demographics, we were just talking about the Olympics and you think about the Olympics coming back. It all kind of made sense.”
Smith will take over the franchise’s hockey operations and Meruelo will maintain his business operations in Arizona in an effort to secure and develop a tract of land for a new arena in north Phoenix.
Meruelo also retains ownership of the Tucson Roadrunners, the franchise’s AHL affiliate, and hopes to move them to Mullett Arena, the Coyotes’ temporary home shared with Arizona State University the past two seasons. He plans to pay back the $1 billion once an expansion team is approved.
“The NHL’s belief in Arizona has never wavered,” NHL Commissioner Gary Bettman said in a statement. “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.”
Meruelo will retain the Coyotes’ name, logo and trademark, so Smith’s group will have to rename the team. The team will play at Delta Center, home of the Jazz, until a new arena can be built.
“We’ll start with Utah on the jersey and we’ll figure out the logo and everything else, and what it is that we are, but that’s a one-way door,” Smith said. “You’ve got to do it once. And with this timeline, I think both the league feels better and we feel better to just run the process and then we’ll drop it when we drop it.”
The sale ends the Coyotes’ long-running bid to find a permanent home.
The franchise shared an arena with the NBA’s Phoenix…