The future of the Arizona Coyotes has been up in the air for some time now. Last summer, the team's proposed arena and entertainment district in Tempe was shot down by public vote. And while the team has unveiled plans to build a new arena in North Phoenix, they may not get the chance to go through with those plans.
There has reportedly been “significant progress” made to relocate the Coyotes to Salt Lake City, Utah, according to Daily Faceoff's Frank Seravalli. Seravalli stressed that no deal is done as of this time. However, an agreement could be in place soon, and the team could be moved as soon as April 18th.
The Coyotes have so far declined to comment on the store through official channels. That said, their social media team may have responded to these reports, albeit a bit indirectly. They shared the following post on Wednesday, accompanied by a hype video for their upcoming game against the Vancouver Canucks.
The reported Coyotes-Utah NHL team framework
Again, there is no completed deal between the Coyotes, the NHL, and Utah Jazz owner Ryan Smith, who is looking to bring the NHL to Utah. However, Seravalli mentioned there may be some sort of framework in place for a deal. ESPN's Emily Kaplan and Greg Wyshynski went a bit more in-depth on what this could look like.
This could involve two transactions, according to ESPN. First, Coyotes owner Alex Meruelo would sell the franchise to the league for $1 billion. Meruelo could receive an option to buy an expansion franchise sometime down the line as part of this first sale. Then, the league would sell the Coyotes to Smith for a potential fee of $1.3 billion.
This would mark the two most expensive sales in league history. The Ottawa Senators were sold earlier this season for just under $1 billion. Furthermore, the $1.3 billion would be double the $650 million expansion fee paid by the owners of the Seattle Kraken in 2021. This would also mark the second time the NHL would buy the Coyotes after they first purchased the team in 2009.
Hockey in Utah
Hockey is not a foreign concept in the state of Utah. In fact, they had a professional hockey team for decades. The Salt Lake Golden Eagles began play in 1969 and played in three different minor leagues. The Golden Eagles won five minor league championships during their existence before being sold and relocated in 1994.
What's also not new is Ryan Smith's desire to bring a team to the state of Utah. He signaled his openness to purchase the Coyotes last summer after the failed Tempe vote. Later, he submitted a bid to purchase an expansion franchise in the even the NHL added more teams.
His most recent move is certainly interesting considering Wednesday's development. On Monday, Smith tweeted out a survey link and asked fans to submit Utah NHL team name ideas. Whether the reported progress on relocating the Coyotes is linked to that survey remains unknown.
A relocated Coyotes franchise would likely initially play out of the Delta Center. They would share this arena with the Utah Jazz. However, this would not be permanent. Local lawmakers have already approved a bill for a new NBA/NHL arena in downtown Salt Lake City. This new arena may also host the Winter Olympics, which could take place in Salt Lake City in 2034.
The Coyotes may be down to their final hours in Arizona. A Utah NHL team may be closer than it has been before. Of course, things are not finalized at this time. In any event, this is certainly a situation for all hockey fans to monitor as things develop over the coming weeks.
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