.@12SportsAZ confirms the Coyotes are nearing being sold to Ryan Smith, will relocate to Salt Lake City. The deal is not done, but should be finalized early next week. Alex Meruelo will get $1B and the Coyotes franchise becomes inactive. @Gambo987 had it first. @12SportsAZ
The Hockey operations are being sold, business side and name will remain here. The Tempe arena vote fail was the last straw. The league no longer wants them playing at Mullett. GM Bill Armstrong decided to address the team on his own. @12SportsAZ
NHL source confirms Commissioner Gary Bettman convinced Meruelo it’s in the players best interest to sell now because there’s no guaranteed new arena timeline. @12SportsAZ
Source also says Meruelo plans to go forward with the June 27th auction. The sale gives him a 5-year window to return with an expansion team if an arena is built. At that time, he’ll have to pay back to $1B from sale. Meruelo knows it’s all about actions now. @12SportsAZ
@CamCox12 @12SportsAZ A disconnected ownership group is a dangerous group 🚮
@CamCox12 @12SportsAZ I imagine also it allows Alex not to bleed anymore money for the next four years