NHL owners to receive huge payment after the Arizona Coyotes relocate
Several reports have confirmed today that the NHL is working towards relocating the Arizona Coyotes to Salt Lake City, Utah. As part of the relocation the NHL and its team owners are in for a big payday that could help the league.
Earlier today several reports starting with NHL insider Frank Seravalli confirmed that the NHL has intentions to relocate the Arizona Coyotes. According to the reports the move would be to Salt Lake City and could happen as fast as next season.
#NHL memo updated Governors today.
NOT done. Many layers and lawyers. Much work to do.
While the deal is not done yet other reports have come in and made it seem as though this is a foregone conclusion. The process of selling the team is a bit more complex.
To move the team to Salt Lake City the NHL would buy the Arizona Coyotes from their current owner Alex Merulo for a billion dollars. The NHL would then sell the franchise to Utah Jazz owner Ryan Smith for 1.3 billion dollars. This would leave the league with a 3 million dollar pool of money from the sale.
That money according to another insider would then be dispersed amongst all the remaining 31 other team owners.
This would allow the teams that helped facilitate the move from one city to another to gain a bit of extra cash. This could be good for the league in the long run as it could incentivize owners to spend more on their clubs.
As of now this all remains speculation and could change by the time the deal is done between all the sides. As more information becomes available we will provide it to you.
Source: Blade of Steel - NHL Owners in line for big payday with relocation of the Coyotes
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Will the NHL end up relocating the Arizona Coyotes to Salt Lake City? | ||
| Yes | 416 | 87.8 % |
| No | 58 | 12.2 % |
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