NHL OK’s Coyotes sale, move to Salt Lake City | ESPN
The NHL is shaking things up as they announced the relocation of the Arizona Coyotes to Utah, where they’ll play as a new franchise starting next season. This move follows a $1.2 billion purchase of the team and its assets by Ryan and Ashley Smith of Smith Entertainment Group from previous owner Alex Meruelo. Meruelo’s ownership saw the Coyotes’ struggle to secure a long-term arena solution in Arizona, leading the NHL to intervene and facilitate the sale.
The Smiths, who already own the NBA’s Utah Jazz, initially sought an expansion franchise but found themselves stepping in to resolve the Coyotes’ predicament. This unprecedented move underscores their commitment to the league and their confidence in Utah’s potential as a hockey market. The sale was greenlit at a virtual NHL Board of Governors meeting, marking a significant shift in the league’s landscape.
The emotional farewell to the Coyotes in Arizona marks the end of an era fraught with uncertainty for players and fans alike. However, a new chapter awaits in Utah, where the team will play at the Delta Center in Salt Lake City, also home to the Jazz. The Smiths plan to make necessary improvements to accommodate hockey and engage the community in naming the new franchise…………
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How do ownership changes and relocations of sports franchises impact local economies, and what strategies can stakeholders employ to ensure a smooth transition and maximize community benefits?
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