The worst for hockey in Arizona has come to pass.
Not only is Alex Meruelo walking away from his ownership post of the Coyotes, but he has told his remaining executives that he is dissolving what is left of the team, as per a source with knowledge of the situation informing Sportico.
This decision by him came three days after the Arizona State Land Commission cancelled the auction for the land that was proposed to have a $3 billion arena and entertainment complex in anticipation of the new Coyotes franchise in north Phoenix.
The Cancellation of the Auction
The auction was for 95 acres of land in north Phoenix that was scheduled for this past Thursday, with the starting price being $68.5 million. ASLC determined that Meruelo must seek a Special Use Permit to build an arena over the property where it was proposed to be at. Plus, Phoenix mayor Kate Gallego noted that she had no interest in helping Meruelo to build an arena that would compete in hosting non-sporting events with Footprint Center at downtown Phoenix.
In turn, Meruelo has returned the team’s marks, logo, name, and rights to the NHL. The Coyotes also released a statement about their displeasure at the cancellation of the land auction. Plus, the reactivation of the franchise would have required Meruelo to pay back the $1 billion that he received when he sold the previous iteration of the Coyotes to Smith Entertainment Group for $1.2 billion, with new owners Ryan and Ashley Smith relocating that Coyotes team to Salt Lake City, where they are temporarily the Utah Hockey Club before they choose a permanent team name.
There was no possibility that the Coyotes would have continued to play at Mullett Arena for another season. It is a college arena that can fit 4,600 at a maximum, and is on the campus of Arizona State University. The future of the Coyotes was already in doubt when voters rejected a proposed entertainment district that would have included an arena in Tempe, but the cancellation of the auction was the final nail in the coffin for the Coyotes franchise.
Could the Coyotes Come Back?
It’s not certain if the Coyotes can be revived in the future, but former Houston Texans and Arizona Cardinals defensive lineman J.J. Watt hinted that he has interest in resurrecting the Coyotes franchise at some point. When he was asked about being part of an ownership group, he said on X (formerly Twitter) that he is open to such a possibility.
After his retirement from the NFL, Watt purchased a stake in the English football club Burnley FC in 2023. He wouldn’t be the only one being part of a potential ownership group in an attempt to get the Coyotes back in the NHL, but it can be something worth watching.
And while this is speculation, also note that actor Ryan Reynolds previously placed a bid on the Ottawa Senators with the intent of purchasing the team, but his bid did not move forward as the team was eventually sold to Michael Andlauer. However, Reynolds and fellow actor Rob McElhinney were part of an investor group that bought a 24% equity stake in Alpine F1 team, a motorsports team that competes in Formula One, last June. The duo also are the current owners of the Welsh football club Wrexham A.F.C.
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