NHL approves team’s sale and move to Utah
The NHL Board of Governors voted unanimously Thursday to approve a $1.2-billion sale of the Arizona Coyotes to Utah Jazz owners Ryan and Ashley Smith, clearing the way for a move to Utah.
The deal includes a provision for Arizona to get an expansion team if a new arena is built within the next five years. The deal will be facilitated through the NHL, with $200 million going to league owners as a relocation fee.
“We expressed our interest publicly with the NHL,” Ryan Smith told the Associated Press. “It’s probably been two years where we’ve said, ‘Hey, look, we really believe Utah can be an incredible hockey town.’ You look at all the demographics, we were just talking about the Olympics and you think about the Olympics coming back. It all kind of made sense.”
Smith will take over the team’s hockey operations and former owner Alex Meruelo will retain the Coyotes’ name, logo and trademark, so Smith’s group will have to rename the team. The team will play at Delta Center, home of the Jazz, until a new arena can be built.
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