Alex Meruelo has officially stepped away from Coyotes ownership
Photo credit: Sportnet
The Coyotes owner, Alex Meruelo announced yesterday that he is officially walking away as owner of the team.
Meruelo had sold the team to Utah owner Ryan Smith but had a plan in place that allowed him to bring a team back in the next 5 years. This plan was linked to a bid he made to turn a piece of land into a entertainment area with an arena. The Auction has now been indefinitely delayed causing Meruelo to walk away for good.
The decision comes in the wake of the Arizona State Land Department's decision to cancel an auction on Thursday. Meruelo had hoped to win that auction and purchase a 95-acre (110 gross acres) parcel of land and build an entertainment district and an arena that would house his hockey team. With that delayed indefinitely, and considerable political opposition in his path, he sees no viable options that would allow him to reactivate the franchise within the parameters set forth in the $1.2 billion sale of the team to Jazz owners Ryan and Ashley Smith.
It looks like if the Coyotes are to return to Arizona in the future, it will not be Meruelo that will be involved as he told his staff yesterday morning he would not be returning.
Source: Go PHNX
Alex Meruelo is walking away from Coyotes ownership
| POLL | ||
25 JUIN | 114 ANSWERS Alex Meruelo has officially stepped away from Coyotes ownership Will the Coyotes ever return to Arizona? | ||
| Yes | 11 | 9.6 % |
| No | 103 | 90.4 % |
| List of polls | ||
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