The Arizona Coyotes have received unanimous approval from the NHL Board of Governors for a $1.2 billion sale to Utah Jazz owners, Ryan and Ashley Smith. This decision paves the way for the franchise to move to Salt Lake City starting next season. As part of the deal, Arizona has the potential to receive an expansion team if a new arena is constructed within the next five years.
Ryan Smith expressed his belief in Utah as a thriving hockey town and highlighted the strategic fit of bringing the Coyotes to the region. The sale includes a $200 million relocation fee to be paid to NHL owners, with Smith set to oversee the franchise's hockey operations.
