NHL Commissioner Gary Bettman addressed the Coyotes situation at the CAA World Congress of Sports
NHL Commissioner
Gary Bettman didn’t let the cat out of the bag regarding the potential relocation of the Coyotes from Arizona to Salt Lake City during his one-on-one interview at the CAA World Congress of Sports but did address the challenging situation in the team’s current home market.
Just two weeks ago, the team unveiled owner
Alex Meruelo’s proposal to build a $3 billion mixed-use development in Phoenix to serve as the team’s long-term home in the region. Bettman said today that even in a “best-case scenario,” the Coyotes would be “looking at another three to five years" at Mullett Arena.
When presenting their plan, the Coyotes said the new arena would be ready for the start of the 2027-28 NHL season. That would mean three more seasons at Mullett Arena, the 4,500-seat venue at Arizona State in which the team is currently a tenant.
Several individuals familiar with real estate development in the area, however, characterized that timeline as very ambitious. Bettman pointing to a three-to-five-year range rather than the firm three-year timeline put forward by Coyotes ownership suggests he also thinks it would take more time.
“We're exploring options as to how to deal with [the arena situation] because, particularly for the players, it isn't an ideal circumstance,” Bettman said in Los Angeles. “I know there's a lot of rumors and speculation and when we have something to announce we'll do it, but we are exploring our options.”
SBJ has confirmed reports the NHL is brokering a deal that would see Meruelo sell the Coyotes franchise to the league for $1 billion. The league would then sell the franchise to Jazz owner
Ryan Smith for between $1.2 billion and $1.3 billion -- any amount more than $1 billion would be considered a relocation fee to be split among the other NHL owners. Meruelo would potentially be able to bring a new franchise to Phoenix if he is able to satisfy certain conditions -- such as building the team an arena -- in the next five years. While the complex transaction is still in the works, an announcement of the Coyotes' relocation to Salt Lake City is expected before the start of the Stanley Cup Playoffs on Saturday.
