Arizona Coyotes hopes to win auction takes major blow, future in jeopardy

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Josh Tupper
June 21, 2024 (4:40 PM)

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The Arizona Coyotes have experienced yet another significant blow to their potential NHL comeback in the absence of the auction.

Fans of the Arizona Coyotes are still devastated despite the team's formal move to Utah. Coyotes supporters held out hope that they would win the lottery and the team would return within the five years allotted, even though they were unable to find a permanent home. However, today's attempt to return was severely hindered.

The auction that was supposed to take place next week has been canceled, it was reported today. It was concluded after careful analysis that the trust was not best served by the current auction system. The following statement was released by the Arizona board:

After much consideration, the Arizona State Land Department (ASLD) has determined that it is in the best interest of the Trust to cancel the auction and reorder the steps.

ASLD recently confirmed that the proposed arena use will require a Special Use Permit, and as a result we are requesting that the applicant file for and receive a Special Use Permit prior to the auction. This affords the applicant & ASLD certainty that the applicant can build and members of the public, but the change in timing is the prudent decision for the Trust. ASLD remains open to working with our applicant to bring the land forward to auction in the future if a special use permit is received.

This delay is a serious setback since it will compel Alex Meruelo to increase his financial commitment, which is unlikely to happen. Not to add, a completely zoned property will probably result in a significant increase in purchase price. In spite of Gary Bettman's optimism for this market, the Coyotes' days in Arizona may be coming to an end.