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.
Rubiales denies wrongdoing when questioned in probe into Saudi Arabia deal for Spanish Super Cup
Homicide investigation launched after body found in Hastings
Could the genocide case against Israel at the UN's top court have an impact on the war in Gaza?
North Korea's Kim Jong Un turns 40 ... maybe
Immersive Studio Ghibli exhibition opens in Shanghai
Severe heatwave in eastern Australia to bring hottest weather in four years to NSW
Homicide investigation launched after body found in Hastings
TikTok users losing access to Taylor Swift, Billie Eilish songs
3 dead, 4 missing in explosion at Italy power station
Japan launching new visa for digital nomads but will it be enough to solve its economic woes?
House and Senate negotiate on bill to assist FAA
China gives monks a list of things they can’t do after the Dalai Lama's death — Radio Free Asia