LOS ANGELES—Ryan Smith, owner of the NBA’s Utah Jazz, all but confirmed the worst-kept secret in hockey on Wednesday. He is set to purchase the Arizona Coyotes and move the NHL team to Salt Lake City.
Speaking at the World Congress of Sports, Mr. Smith said, according to Sports Business Journal, “There’s no secret on what’s out there online. Normally, not everything on the Internet is true, but in this case, it’s pretty true.”
Sportsnet reported that the NHL’s Board of Governors will meet on Thursday to approve the team’s sale and relocation.
Mr. Smith spoke at the Los Angeles event a day after NHL commissioner Gary Bettman did so. On Tuesday, Mr. Bettman said of the Coyotes, per Sports Business Journal, “We’re exploring options as to how to deal with [the arena situation] because, particularly for the players, it isn’t an ideal circumstance. I know there [are] a lot of rumors and speculation and, when we have something to announce, we'll do it. But we are exploring our options.”
Multiple media outlets reported last week that the franchise was about to be sold ahead of a move to Utah. The Coyotes on Wednesday night concluded their second season playing home games at 5,000-seat Mullett Arena on the Arizona State University campus in Tempe, Ariz., defeating the Edmonton Oilers 5–2.
The Coyotes moved to Arizona from Winnipeg, Canada in 1996.
Earlier this month, Coyotes owner Alex Meruelo unveiled a plan to buy a 110-acre site in Phoenix and build a privately funded arena. Mr. Bettman, however, acknowledged that the timeline for that potential venue to be ready was prompting the NHL to explore other options for the club.
The league is prepared to buy the team from Mr. Meruelo for $1 billion before reselling it to Mr. Smith and his wife, Ashley Smith, for $1.2 billion to $1.3 billion, according to Sports Business Journal. The amount beyond $1 billion would be split among the NHL’s other 31 teams as a relocation fee, per the report.
Mr. Meruelo also reportedly would receive a chance to purchase an expansion team if the Phoenix arena becomes reality within the next five years.
