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Utah is officially welcoming an NHL team as the league owners approved the sale of the Arizona Coyotes to the owners of the NBA’s Utah Jazz, led by billionaire Ryan Smith and his wife Ashley of Smith Entertainment Group (SEG). The $1.2 billion deal will see the Coyotes’ player and hockey operations departments into a new NHL franchise in Utah, expected to begin play at the SEG-owned Delta Center next season.
Operating out of Arizona State's Mullet Arena, with its modest capacity of 4,600 seats, has led to financial strains for the Arizona Coyotes. But now that Smith and SEG have bought the team, it's like a fresh start, offering a chance to revive and grow the franchise. Smith has already planned for the Coyotes to start their games at Delta Center and he wants to grow this franchise drawing from his experience of owning the Utah Jazz.
In 2020, Smith acquired the Jazz for $1.6 billion, and the team's value has since soared to $3.24 billion (per Marca). Alongside the Jazz and Delta Center, SEG possesses ownership of the NWSL’s Utah Royals and MLS’s Real Salt Lake.
Who was the previous owner of the Arizona Coyotes?
Arizona Coyotes was previously owned by Alex Meruelo. Meruelo had acquired the Coyotes at a price of $425 million. He has owned the Arizona Coyotes since 2019.
Despite the change in ownership, Alex Meruelo retains ownership of the team's name, logos, and other intellectual property, along with the AHL's Tucson Roadrunners. Meruelo still has the option to revive the dormant NHL franchise for $1 billion if he can spearhead a new arena project within the next five years.
Ryan Smith's plans for Arizona Coyotes in Utah
Ryan Smith, despite his limited personal hockey experience, isn't bringing the NHL to Utah solely due to his background in roller hockey growing up and fandom for teams like the Salt Lake Golden Eagles and the Los Angeles Kings during the Wayne Gretzky era. His interest in hockey has grown in recent years.
"There’s infrastructure built. There’s a roster. There are assets. So, look, we can all talk about what the better option is five years from now, but Utah’s ready for a team. Let’s go.” Smith said via NHL.com
If you look at Utah, they have a rich hockey heritage. The Golden Eagles competed in the Western Hockey League from 1969 to 1974, then transitioned to the Central Hockey League until 1984, and later joined the International Hockey League until 1994. Salt Lake City notably hosted the 2002 Winter Olympics, which showcased NHL players on an international stage.
Following this legacy, the original Utah Grizzlies participated in the IHL from 1995 to 2001 and then in the American Hockey League until 2005. Since 2005, the current Utah Grizzlies have been active in the ECHL.
“The one thing I do know about Utah is, people show up,” Smith said. “... It’s just different here. I mean, [the Jazz have] 291 straight sellout games at the Delta Center. I think every concert that’s come into town has sold out. It’s just what we do. We show up. I have a lot of faith in the people of Utah.”
With the Delta Center set to undergo renovations for NHL games, Smith's focus is on creating an exceptional dual-sport arena experience.
