Coyotes Sold to Utah Jazz Owner, Future in Arizona Uncertain

The Arizona Coyotes, a professional ice hockey team based in the Phoenix metropolitan area, have been sold to Utah Jazz owner Ryan Smith for $1.2 billion. However, the team's current owner, Alex Meruelo, has retained the Coyotes' name and has the option to restart the franchise if he pays back the sale, move amount.

The Coyotes have five years to build an NHL-suitable arena in the Phoenix area. If they succeed in doing so by 2029, they will be reinstated with all their previous records, history, and intellectual property rights. However, if they fail to secure a new arena, their operations will be suspended permanently, and the franchise will cease to exist.

As of May 2024, the operations of the Arizona Coyotes are officially suspended. The team has been moved to Salt Lake City, where it will become a new Utah NHL team, with the majority of the Coyotes' intellectual rights retained by Alex Meruelo.

The deal includes all the hockey assets of the Coyotes, meaning the existing players and coaching staff will move to Utah. The new Utah team has yet to decide on a name. Ryan Smith is confident the team will draw big crowds and be competitive from the outset, citing Utah's strong attendance record for sports and concerts. "The one thing I do know about Utah is people show up. We just had the NCAA Tournament here for basketball and the entire arena was full. It's just different here. I mean, the Jazz have 291 straight sellout games at the Delta Center. I think every concert that's come into town has sold out. It's just what we do. We show up," Smith said.

NHL Commissioner Gary Bettman welcomed the Smiths to the NHL family and expressed delight at moving into a new state. "As everyone knows, Utah is a vibrant and thriving state, and we are thrilled to be a part of it,"Bettman said. Meruelo received $1 billion as part of the sale and relocation.

The Arizona Coyotes have appeared in eight playoff in 27 seasons, but have not won any Stanley Cups. They have reached the Conference Finals once, in 2012, but were defeated by the Los Angeles Kings. The team has a sole Division Championship, which they won in the 2011-12 season.

Despite the relocation, Meruelo remains committed to bringing NHL hockey back to Arizona. "This is not the end for NHL hockey in Arizona. I have negotiated the right to reactivate the team within the next five years and have retained ownership of the beloved Coyotes name, brand, and logo. I remain committed to this community and to building a first-class sports arena and entertainment district without seeking financial support from the public," Meruelo said. The future of the Coyotes in Arizona now hinges on Meruelo's ability to secure a new arena deal within the next five years.

Key Takeaways

• Arizona Coyotes sold to Ryan Smith for $1.2 billion.
• Coyotes have 5 years to build a new arena in Phoenix or cease to exist.
• Team moves to Salt Lake City, Utah, with most intellectual rights retained.
• New Utah team to retain existing players and coaching staff.
• Alex Meruelo remains committed to bringing NHL hockey back to Arizona.