The sale of the Coyotes' hockey assets, including players, reserve lists and draft picks, to Utah Jazz owner Ryan Smith was announced on April 18 after weeks of speculation.
The sale allows Coyotes owner Alex Meruelo to keep the Coyotes name, logo, minor league team and Arizona Coyotes Foundation. It also gives the franchise a five-year deadline to build a new arena that meets NHL standards in order to restart. If they meet the deadline, they will be given an expansion team, likely named the Arizona Coyotes.
During that time, Meruelo will still be able to attend NHL Board of Governors meetings, but the Coyotes will not have voting rights on the board.
Where is the arena scheduled?
Mr. Meruelo set his sights on about 100 acres of land on Loop 101 west of Scottsdale Road in northeast Phoenix. The land will be sold at a public auction held by the Arizona Department of Lands on June 27th, with a starting price of $68.5 million.
How long does it take to build an arena?
Meruelo said he expects construction to take about 30 months. Realistically, construction on the site must begin by mid-2026 at the latest to meet the NHL's deadline. He said he hopes construction of the arena can be completed quickly, within three to four years, but the deadline for the project to be completed is mid-2029.
What if that didn't happen?
NHL Commissioner Gary Bettman said he would not speculate on future developments, but reiterated that the deadline is five years.
What else is planned for this land?
In addition to the arena, Meruelo is aiming to build an entertainment district in north Phoenix. His proposal includes restaurants and retail, a hotel, office space, a 3,500-seat theater and 1,900 residential units.
Does development require taxpayer contributions?
Meruelo is not seeking direct taxpayer contributions for the construction of the project, but has proposed a “theme park district” that would allow for surcharges on items and tickets sold within the district to fund ongoing operations. ” is requested.
It is necessary to establish a district and establish a board of directors. If activated, the district's governing board could issue bonds to pay for maintenance and renovations.
To repay the bond, an additional 1% to 9% surcharge will be added to sales of items such as tickets, merchandise and food. Meruelo said the arrangement would allow the project to be built without direct public funds, and instead be financed by voluntary fees paid only by those who use the facility.
What was wrong with Mallet Arena?
The arena on Arizona State's campus is too small for an NHL team, Bettman said. It was unfair for athletes at the highest levels of the sport to play in college arenas that were never suitable for playoff games. The Coyotes' time at Mallett Arena was always meant to be temporary.
“It's a good facility for a college rink, but it's not a major league facility,” Bettman said.
Who bought the team?
Utah Jazz owner Ryan Smith has purchased a hockey business that will host games at the Delta Center, the same stadium where the Jazz play. Bettman said Smith expressed interest in owning an NHL team about two years ago. Delta Center currently has 12,000 unobstructed seats for hockey, and he plans to reach 17,000 seats in the next few years.
What is Utah's hockey team called?
Bettman said there likely won't be enough time to officially choose a team name before the season begins in October. You'll need to choose a name, trademark it, and create your products and logo.
What will happen to the Tucson Roadrunners?
Meruelo remains the owner of the Coyotes' American Hockey League affiliate, the Roadrunners. Meruelo is working with Arizona State University to bring the Roadrunners to Mallett Arena on a part-time basis, but he said plans are still in the early stages. Meruelo will need approval from the AHL Board of Governors before moving the Roadrunners. His idea was to have the Roadrunners remain in Tucson for part of the season and play the rest in Tempe.
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