In a fluid situation, the NHL has expressed skepticism over the Phoenix arena plans put forward by the Coyotes, leading to speculation that ownership of the team may be handed over to the Jazz owners. While the Coyotes declined to comment on these reports, they have persistently maintained their intention to build a new arena in northeast Phoenix, contingent upon winning an auction for the desired land on June 27.

The potential move to Utah represents the latest development in the Coyotes' quest for a new arena, as their plans to build one in Tempe were dashed by a failed public vote in May. According to reports from ESPN's Seravalli, there is a possibility that Coyotes owner Meruelo could sell the team to Smith Entertainment Group for more than $1.2 billion, including a relocation fee. Smith has indicated that the Jazz's home arena, Delta Center, could temporarily accommodate hockey games until a new, hockey-focused arena is constructed.

"We are interested. We are ready, and we're a partner," said Smith in an interview with The Athletic. "The arena is done. We think we have a solution. And that's my message to the NHL." However, it should be noted that the situation remains fluid, with ongoing discussions and no finalized deal as yet. Meruelo remains steadfast in his belief that he can build a state-of-the-art arena for the Coyotes, while the NHL is working diligently to avoid a potentially lengthy dispute if Meruelo is dissatisfied with the terms of a transaction.

Sources knowledgeable about the negotiations suggest that Meruelo could potentially receive up to $1 billion for the sale of the Coyotes. However, the exact figures of the proposed transaction and the specific mechanics of a potential deal are still subject to change.

Last Thursday, the Arizona State Land Department listed an auction for a tract of land located on the northwest corner of the Loop 101 and Scottsdale Road, near Desert Ridge Marketplace. The acquisition of this land would require the Coyotes to cover development costs associated with utilities, water, sewage, and additional roadway changes necessary to support an entertainment district. Meruelo acknowledged that he could potentially incur approximately $100 million in expenses solely for the development of the land, which currently lacks utilities.

As the situation surrounding the Coyotes' arena plans continues to evolve, the NHL remains vigilant in navigating this complex process, while the Coyotes, under Meruelo's leadership, push forward in their efforts to secure a new home for the team.