Team owner Alex Meruelo is expected to sell the team for $1.2 billion to Utah Jazz owner Ryan Smith, who intends to move the franchise to Salt Lake City. The deal could come as soon as Thursday, a day after the Coyotes' final home game in Arizona.The Coyotes, no matter the ownership group, have insisted the franchise is here to stay, even building a marketing campaign around the phrase.
With no guarantees the land deal will go through, Meruelo didn't want the players to continue playing in an arena that's not up to NHL standards, so he opted to sell the franchise to Smith. Meruelo plans to keep his business operations intact to work toward securing and developing the north Phoenix land. He also plans to move the Tucson Roadrunners, the team's American Hockey League affiliate, to Mullett Arena to keep the team's youth hockey efforts moving forward.The deal to sell the team to Smith will include a provision for Arizona to get an expansion team if the new arena is built within five years.
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