Who owns the Arizona Coyotes?
THE ARIZONA Coyotes have faced instability for years.
While the team has been without a permanent venue, they will finally have a stadium to call home again.
Who owns the Arizona Coyotes?
On April 18, 2024, the NHL approved a $1.2 billion sale of the Arizona Coyotes to Ryan Smith, who owns the NBA's Utah Jazz.
Bloomberg reports that the purchase of the Coyotes’ hockey operations, includes player roster and draft picks.
The deal does not include the team’s name, logo, uniforms, or other intellectual property.
Ryan is a billionaire who is the CEO and co-founder of Qualtrics, an online survey software company.
Read more on NHL
Forbes estimates that his net worth is $2.2 billion.
Are the Arizona Coyotes relocating?
On the same day the purchase of the Arizona Coyotes was finalized, the NHL confirmed that the team would be relocating to Utah.
News of the move comes after the Arizona Coyotes had issues with their home venue.
The team had been seeking a permanent home stadium since losing their lease at the Gila River Arena following the 2021-2022 season.
Most read in Sport
They 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.
On April 17, the day before the move was confirmed, the Coyotes played what would be their final game in Arizona.
Sportscaster and former Coyotes player Tyson Nash was emotional during the pre-game coverage.
"This is awful. This is everywhere. This is absolutely gut-wrenching, heartbreaking," he said.
"Best city in the world, I can’t say it enough. I’m absolutely in shock. And possibly, we have lost our hockey team. That was a gift.
"The NHL gave us a gift here in Arizona. And we possibly just lost it."
What other sports teams does Ryan Smith own?
Apart from purchasing the Coyotes, Ryan Smith owns several Utah sports teams.
In 2020, he bought the Utah Jazz and its home stadium, the Delta Center, through the Smith Entertainment Group, for $1.66 billion.
Read More on The US Sun
Ryan founded the Smith Entertainment Group with his wife, Ashley.
He also partnered with David Blitzer, co-owner of the New Jersey Devils, to invest in the MLS club Real Salt Lake.