Feb 10: The Coyotes have reached a multi-year agreement with ASU to play home games at the new multi-purpose facility starting next season and continuing through at least 2024-25. Team president Xavier A. Gutierrez released a statement on the deal:
We are thrilled that we have arranged to play our home games in Arizona State University’s new multi-purpose arena starting next season. This will be an incredible, intimate and exciting fan experience in a state-of-the-art new arena in a fantastic location in the heart of Tempe. We are very grateful to Dr. Crow, the ASU Administration, ASU Athletic Department, and the Arizona Board of Regents for agreeing to provide us with this temporary arena solution for our team as we continue our efforts to secure a long-term home for the Coyotes in the Valley.
The team has agreed to cover all costs involved in the new construction and will cover the entire lease agreement upfront.
Jan 27: The Arizona Coyotes have to find a new home for the 2022-23 season as the city of Glendale has ended their lease agreement at Gila River Arena, effective June 30. While they continue to try and secure a deal to build a new arena in the Tempe area, a potential short-term solution is being worked on. Craig Morgan of PHNX Sports reports that the Coyotes are in the “advanced stages” of discussions with Arizona State University to use the new multipurpose arena as a temporary home, negotiating a three-year deal with an option for a fourth should the construction on a Tempe rink take that long.
While getting the Coyotes into that area would start their migration to Tempe, the new multipurpose arena holds a maximum of just 5,000 spectators and would need millions of dollars in additional construction to house the NHL club. Bill Daly, NHL deputy commissioner, told Morgan that he would not rule out a plan that has the Coyotes playing in an arena with a seating capacity of 5,000.
The Coyotes, continually mired in relocation speculation since they arrived in 1996, currently average 11,575 fans per game according to ESPN. Cutting that number by more than 50 percent would obviously have a huge financial impact for the team and sink Arizona’s revenue even lower. Perhaps that is part of why the team has been so aggressive in shedding future salary, trading out big-ticket players like Oliver Ekman-Larsson over the last year.
In fact, Arizona currently has 15 players on the roster or injured reserve that are scheduled to become unrestricted free agents in the summer. They have just six players–Clayton Keller, Nick Schmaltz, Andrew Ladd, Jakob Chychrun, Shayne Gostisbehere, and Conor Timmins–signed to one-way contracts for 2022-23. Those six total less than $30MM in cap charges, with the salary owed even lower. Chychrun, who carries a cap hit of $4.6MM and is owed $4MM next season in salary, is expected to be traded before this year’s deadline.
A stay in the new ASU facility would come alongside the first few years of this scorched earth rebuild that the Coyotes have begun under new general manager Bill Armstrong. The team has continued to strip all valuable on-ice assets away while loading up with draft picks and prospects. The team holds eight draft picks in the first two rounds this year.