Photo credit: NHL
Arizona Coyotes officially for sale
It was the day that everyone but Bettman knew would come. After multiple years in a college arena, reports now indicate that Arizona Coyotes owner Alex Meruelo is looking at potential buyers for the franchise. This news comes just weeks after the NHL had stated that they believed the Coyotes were on route to purchasing land in Arizona.
The NHL had previously said a deadline around All-Star weekend to confirm the future of the franchise. Like so many opportunities, Arizona missed the deadline and now it appears the team and ownership are considering alternative paths forward.John Gambadoro of Arizona Sports shared the following article Arizona Coyotes owner Alex Meruelo has sought out potential buyers.
Arizona Coyotes owner Alex Meruelo has spoken to multiple potential buyers — who are in the state and outside of it — to gauge their interest in purchasing the NHL franchise from him, Arizona Sports' John Gambadoro reports.
Meruelo reportedly was seeking upward of $1 billion for the franchise that he bought in July 2019. The Coyotes owner had a recent meeting with NHL commissioner Gary Bettman regarding the team's future, Gambadoro adds.
According to these reports, the Coyotes owner is seeking nearly a billion dollars for the sale of the franchise. A price far above the franchises valuation, but an unrealistic starting point for most ownership groups. This price seems exceptionally high, especially when you consider any owner looking to relocate. Would have to pay a relocation fee to the NHL as well.
However, this is great news for the hockey community and for the NHL salary cap as removing a financial burden from the league will most certainly increase revenues.
Meruelo reportedly was seeking upward of $1 billion for the franchise that he bought in July 2019. The Coyotes owner had a recent meeting with NHL commissioner Gary Bettman regarding the team's future, Gambadoro adds.
According to these reports, the Coyotes owner is seeking nearly a billion dollars for the sale of the franchise. A price far above the franchises valuation, but an unrealistic starting point for most ownership groups. This price seems exceptionally high, especially when you consider any owner looking to relocate. Would have to pay a relocation fee to the NHL as well.
However, this is great news for the hockey community and for the NHL salary cap as removing a financial burden from the league will most certainly increase revenues.
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