TEMPE. Ariz. (AP) — 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.
The $1 billion sale is expected to happen between the Coyotes’ final game of the 2023-24 season on Wednesday and the start of the playoffs on Saturday, barring unforeseen circumstances, the person said on condition of anonymity because the planned deal has not been announced.
The deal will transfer the franchise’s hockey operations first to the NHL and then to Smith, who plans to move the team to Salt Lake City, and Meruelo will maintain business operations to move forward with a planned $3 billion project that will include a new arena in north Phoenix. Meruelo also will continue to own the Tucson Roadrunners, the franchise’s AHL affiliate, and plans to move the team to Mullett Arena in Tempe, the current temporary home of the Coyotes.
Twins' Byron Buxton is back after 2
Buffalo Bills owner Terry Pegula explores selling non
G7 comes for Putin, Ayatollah and Xi: Ukraine to receive frozen Russian assets to fund 'game
'The Full English will never die out!' Greasy spoon fans speak up for the Great British Fry
Macron hosts Xi at mountain restaurant in picturesque southern France
PSG loanee Ekitiké scores winner as Eintracht Frankfurt beats Augsburg
Previewing the 1st round of the NBA playoffs, which start on Saturday
Bell hits tying homer as Marlins score 4 in 9th off struggling Díaz and rally past Mets 10
Jackson library to be razed for green space near history museums