Arizona Coyotes owner officially puts the team for sale
It's the day we've all been expecting - reports are swirling that Arizona Coyotes owner Alex Meruelo is on the hunt for potential buyers for the team. After spending several years calling a college arena home, it seems like a change in ownership might be on the horizon.
This news comes hot on the heels of the NHL's recent optimism about the Coyotes snagging some land in Arizona. Yet it seems they missed on that one, and now it's time to explore other options.
We probably won't know about anything concrete until this Summer as the auction for their new land is in June. Until then, the Yotes can't give out contracts due to the uncertainty of their franchise staying in the dessert.
According to Arizona Sports' John Gambadoro, Meruelo has been talking with many potential buyers, both in-state and out, to see if there's any interest in taking the reins of the NHL franchise. He's reportedly looking to pocket $1 billion for the team he scooped up in July of 2019.
Now, that price tag should make you skeptical because it's way above the franchise's actual value. Still, it's lucrative, especially if you consider relocating the team due to the fact, that you'd have to cough up a relocation fee to the NHL on top of that.
However, for the hockey community and the NHL's salary cap, this could be a blessing in disguise. Shedding a financial burden like the Coyotes could mean a revenue boost for the league. Well see what transpires.
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AVRIL 4 | 415 ANSWERS Arizona Coyotes owner officially puts the team for sale What are your thoughts on the potential sale of the Arizona Coyotes? | ||
| Excited | 275 | 66.3 % |
| Concerned | 140 | 33.7 % |
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