The Arizona Coyotes, a team that has faced instability for years, have finally found a new home.
On April 18, 2024, the NHL approved a $1.2 billion sale of the team to Ryan Smith, owner of the NBA’s Utah Jazz. This sale includes the Coyotes’ hockey operations, player roster, and draft picks, but not their name, logo, or other intellectual property.
Ryan Smith, who is a billionaire and CEO of Qualtrics, an online survey software company, has an estimated net worth of $2.2 billion. With the purchase of the Coyotes finalized, it was confirmed that the team will be relocating to Utah.
This move comes after the Coyotes had been struggling to find a permanent home venue since losing their lease at the Gila River Arena after the 2021-2022 season. The team will be the only NHL team in Utah and will play at the Delta Center in Salt Lake City starting in the 2024-2025 season.
Fans and former Coyotes player Tyson Nash were emotional as the team played their final game in Arizona on April 17. Nash expressed his sadness, calling the move “gut-wrenching” and “heartbreaking.” He reflected on the NHL giving Arizona a gift in the hockey team and the loss that may now be felt.
In addition to his ownership of the Coyotes, Ryan Smith also owns other Utah sports teams, including the Utah Jazz and the Delta Center. He founded the Smith Entertainment Group with his wife, Ashley, and has partnered with David Blitzer to invest in the MLS club Real Salt Lake. The future for the Arizona Coyotes now lies in their new home in Salt Lake City under the ownership of Ryan Smith.
