"Effective at closing, the approved transactions will result in the Coyotes' franchise transferring the totality of its existing hockey assets – including its full Reserve List, roster of Players and draft picks and its Hockey Operations Department – to the Utah franchise," read a portion of the statement released by …$1.2 billion

The NHL is moving the team now formerly known as the Arizona Coyotes to Utah to begin play as a new franchise next season, the league announced Thursday. Ryan and Ashley Smith of Smith Entertainment Group bought the team and its existing hockey assets for $1.2 billion from Alex Meruelo, sources told ESPN.It's official: The Arizona Coyotes are moving to Salt Lake City starting next season.

Are the Coyotes staying in Arizona : The Arizona Coyotes are on the verge of relocating to Salt Lake City. The NHL board of governors has to approve the transaction, but all signs point to Utah Jazz owner Ryan Smith acquiring the beleaguered franchise, which began its run in the desert back in 1996 following relocation from Winnipeg.

Is Arizona losing their hockey team

The next day it was announced that the Coyotes had been sold and will be moving to Salt Lake City due to ownership's inability to secure a long-term arena deal in the Valley. However, the impact of an NHL team in Arizona has extended far beyond just the professional level.

How much money does the Arizona Coyotes have : Meruelo bought the Coyotes for $425 million. Sportico recently valued the team at $675 million, by far the lowest in the NHL.

The Arizona Coyotes are officially headed to Salt Lake City. The NHL Board of Governors voted unanimously Thursday to approve a $1.2 billion sale from Alex Meruelo to Utah Jazz owners Ryan and Ashley Smith, clearing the way for the franchise's move to Utah next season.

With the NHL and players' association hesitant for the Coyotes to play at 5,000-seat Mullett Arena for a third season, Meruelo opted to sell the team, his focus shifting to the new arena and expansion team.

How much does Utah pay for coyotes

Smith Entertainment Group (SEG), led by Ryan and Ashley Smith, who already own the National Basketball Association's (NBA) Utah Jazz, has bought the franchise and its existing ice hockey assets from Coyotes owner Alex Meruelo for a reported US$1.2 billion.With the NHL and players' association hesitant for the Coyotes to play at 5,000-seat Mullett Arena for a third season, Meruelo opted to sell the team, his focus shifting to the new arena and expansion team.The Phoenix Coyotes, a professional ice hockey team now known as the Arizona Coyotes of the National Hockey League (NHL), filed for bankruptcy in 2009 after incurring several hundred million dollars of losses since their move to Phoenix, Arizona from Winnipeg, Manitoba, where they were known as the Winnipeg Jets.

(AP) — The Arizona Coyotes are officially headed to Salt Lake City. The NHL Board of Governors voted unanimously Thursday to approve a $1.2 billion sale from Alex Meruelo to Utah Jazz owners Ryan and Ashley Smith, clearing the way for the franchise's move to Utah next season.

Why are Coyotes leaving Arizona : With the NHL and players' association hesitant for the Coyotes to play at 5,000-seat Mullett Arena for a third season, Meruelo opted to sell the team, his focus shifting to the new arena and expansion team.

Why are Coyotes moving : The reasons the Coyotes are moving span decades and involve complexities, none of which exist in a vacuum. The simplest, most urgent reason is Meruelo and his group's inability to secure a suitable NHL arena anywhere in Arizona after leaving Gila River Arena (now Desert Diamond Arena) in 2022.

What is the cheapest NHL team to buy

In 2023, the least valuable franchise in the National Hockey League (NHL) was the Arizona Coyotes. The Phoenix-based franchise had an estimated value of 500 million U.S. dollars in that year.

Estimated net worth: US$250 million

Known as “the Great One”, Canada's Wayne Gretzky has been called the GOAT (Greatest of All Time) by sportswriters, players and the NHL itself.In a complicated transaction, Coyotes owner Alex Meruelo is selling that part of the NHL franchise to Jazz owner Ryan Smith, but Meruelo will maintain the Coyotes' name, logos and trademarks, plus ownership of the AHL's Tucson Roadrunners.

Do the Coyotes have fans : Arizona Coyotes fans named most loyal in NHL after team's relocation to Utah. This just hurts. A recent survey of more than 2,000 people asking sports fans which NHL teams have the most loyal fan bases had a three-way tie for first between the Minnesota Wild, Edmonton Oilers and … Arizona Coyotes.