In a landmark decision, the Arizona Coyotes have been officially sold and relocated to Salt Lake City, starting from the upcoming season. The NHL's Board of Governors voted unanimously in favor of the sale and relocation of the team's hockey assets, according to league sources.

The complex transaction saw the league acting as a broker, with Smith Entertainment Group purchasing the Coyotes' hockey-related assets for a staggering $1.2 billion. Out of this amount, $1 billion will go to the current owner, Alex Meruelo, while $200 million will be allocated as a relocation fee to be shared among the existing NHL owners.

The deal, finalized in the early hours of Thursday morning, signifies the end of a tumultuous 28-year run for the Coyotes since their relocation from Winnipeg to Arizona in 1996. Throughout their history, the team made it to the Stanley Cup playoffs only once, during the unexpected 2012 Western Conference final and the expanded 2020 COVID-19 playoff tournament.

One of the main factors attributing to the Coyotes' relocation was the failure to secure an NHL-caliber arena. The team spent the past two seasons playing its home games at the 4,600-seat Mullett Arena on the Arizona State University campus. The inability to build a new facility led to the team's departure from Tempe, as voters rejected three propositions last year to construct a $2.1 billion entertainment district that would have included a new arena for the Coyotes.

As part of the sale, the Coyotes franchise is now officially declared inactive. However, Meruelo retains the logos, marks, and branding associated with the team. He has been granted a five-year window to bring an expansion franchise back to the Phoenix area if he can successfully construct a new arena.

NHL commissioner Gary Bettman expressed his gratitude towards Meruelo for his commitment to the franchise and Arizona. He also acknowledged the loyal hockey fans who have supported the team over the past three decades.

Meanwhile, the arrival of the NHL in Salt Lake City fulfills the vision of Ryan Smith, the billionaire owner of the NBA's Utah Jazz and MLS's Real Salt Lake. Smith, who made a case for Utah as a viable location for an NHL team back in 2022, purchased Arizona's hockey-related assets. This includes players under contract, coaching staff, management groups, trainers, and associated staff.

Although the new team in Utah will have to establish its own logos, marks, and branding, Smith is not in a rush to make these decisions. In fact, the team may begin the upcoming season without a specific nickname. Smith and Ashley, his spouse, expressed their honor in bringing an NHL team to Utah and their understanding of the responsibility that comes with it.

Utah's new NHL team will also benefit from a significant number of draft picks acquired during the Coyotes' player selloff, which began after Meruelo's ownership in 2019. The team currently holds seven selections in the first three rounds of the upcoming June draft.

With the sale approved, players and staff have been invited to visit Salt Lake City early next week to tour the facilities and become familiar with the region. The team's transition to their new home is expected to be completed by the fall.

Salt Lake City Mayor Erin Mendenhall expressed her excitement about the NHL's arrival, stating that it not only brings a new team to the city but also marks a defining moment in their trajectory, promoting community, connection, and more opportunities for residents and visitors to experience the capital city.

The relocation of the Arizona Coyotes to Salt Lake City represents a significant shift in the NHL landscape and opens a new chapter for both cities involved. Time will tell how the team adapts to its new home and if NHL hockey can flourish in Utah.