The Arizona Coyotes’ finances have taken several hits these past few decades. Every so often, a new owner acquires the franchise, but none has seemed to know how to get the team back on track. Well, until now, at least. They’ve finally decided to shake things up by packing their bags and hitting the road—destination: Salt Lake City, Utah.
That’s right: the National Hockey League (NHL) franchise recently made a bombshell announcement about its impending relocation. The team’s owner, Alex Meruelo, plans to sell it to Utah Jazz team owner Ryan Smith for $1.2 billion. I wasn’t too surprised by the news. My feeling is it’s about time! It’s a move that could genuinely revive their fortunes.
Financial Struggles and Unstable Ownership
Let’s be honest: the Coyotes’ financial woes have been a never-ending saga. Despite being based in a central metropolitan area like Phoenix, the team has always struggled to generate enough revenue to keep the lights on.
It’s been a revolving door of ownership groups, each more disappointing than the last. No leader could provide the deep pockets and stability needed to sustain a professional sports team in a non-traditional hockey market. A few have made matters even worse. We all remember, for example, how Jerry Moyes plunged the franchise into bankruptcy in 2009.
With this move, the Coyotes seem to say ‘no more’ to financial struggles. For one, hockey betting is popular in Salt Lake City, so the team can increase revenue by signing better sponsorship deals.
Diminishing Fan Support
Their financial struggles aside, the Coyotes have also been fighting an uphill battle to cultivate a dedicated hockey fanbase in the Phoenix area. Despite the region’s significant population, they’ve consistently pulled low attendance figures.
Why? Well, the Coyotes seem to have a bad reputation in Phoenix, thanks to their consistently bad performance. This, combined with their financial struggles, made things all the worse for the team, earning them fewer and fewer fans at games.
The Attraction of Salt Lake City
Enter Salt Lake City! With a well-established hockey culture and a rabid fanbase, Salt Lake has long been considered a potential landing spot for an NHL franchise.
Here, the Coyotes get to tap into a hockey-loving market. It has a population that has wholeheartedly embraced hockey—not to even mention the state-of-the-art arena in the Vivint Smart Home Arena.
I believe the Coyotes will be better off here. They get a fresh start with better attendance, stable finances, and a more engaged fanbase.
Wrapping Up
While Coyote’s move may be bittersweet for long-time fans in Arizona, I believe it’s a great chance for the team to finally establish itself in a market better suited to support and nurture it. It starts a new chapter of stability and better fanbase engagement. Here’s to hoping the Coyotes can finally find their footing and give hockey fans in Salt Lake City something to howl about.
