Coyotes sale to Utah Jazz owner expected next week, Arizona to get expansion team, AP source says

— The Arizona Coyotes will likely be sold to Utah Jazz owner Ryan Smith shortly after the team's final game and will include a provision guaranteeing current owner Alex Meruelo an expansion team if a new arena is built within five years, a person with knowledge of the deal told The Associated Press on Saturday.

Once an arena is built, Meruelo will pay back by the $1 billion and move forward with the expansion franchise. The NHL had supported the Coyotes' plan to buy a tract of land at auction to build a new arena, but was hesitant to have the team continue playing at 5,000-seat Mullett Arena, which they share with Arizona State University's hockey team. The Coyotes had hoped to close a deal on the land valued at $68 million by the end of last year before delays pushed the auction until June.

The Coyotes have been on uncertain ground almost since the day the franchise relocated from Winnipeg.

Canada Latest News, Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Arizona Coyotes to be Sold to Utah Jazz Owner Ryan SmithThe Arizona Coyotes are set to be sold to Utah Jazz owner Ryan Smith, with a provision guaranteeing current owner Alex Meruelo an expansion team if a new arena is built within five years.
Source: SooToday - 🏆 8. / 85 Read more »

Report: Arizona Coyotes players informed franchise will be relocating to UtahAn official announcement about the Coyotes moving to Utah is expected in the next week.
Source: DailyFaceoff - 🏆 25. / 68 Read more »

Arizona Coyotes Defeat Vancouver Canucks in OvertimeLogan Cooley's goal in overtime secures a 4-3 victory for the Arizona Coyotes against the Vancouver Canucks. Dylan Guenther contributes with a goal and three assists.
Source: globebusiness - 🏆 31. / 66 Read more »

Cooley scores winner in overtime as Arizona Coyotes edge Canucks 4-3Vancouver faces Oilers in Edmonton on Saturday
Source: TerraceStandard - 🏆 24. / 68 Read more »

Arizona Coyotes’ Travis Dermott likely out for rest of the season with upper-body injuryNick Bjugstad is also expected to miss considerable time due to injury.
Source: DailyFaceoff - 🏆 25. / 68 Read more »

Canucks’ late goal beats Coyotes 2-1, extends lead in Pacific DivisionConor Garland scores late game winner as Vancouver Canucks edge Arizona Coyotes 2-1
Source: globeandmail - 🏆 5. / 92 Read more »