Coyotes submit proposal with massive price tag to the city of Tempe for new arena

The Arizona Coyotes have found themselves in a bit of quandary, entering the 2021-22 season without an arena to call home at the conclusion of the season after the city of Glendale Arizona opted out of a lease agreement renewal with the team for Gila River Arena for financial reasons earlier this summer.

The team's ownership group, led by Alex Meruelo has stated on multiple occasions that it is his intent to keep the team in Arizona moving forward. On Monday, he took a big step forward in making his word a reality.

According to ESPN, Meruelo and the Coyotes have submitted a proposal to the city of Tempe, Arizona, outlining a plan for a $1.7B development in the city, which of course would include an arena, where the Coyotes would hang their hats.

Per reports, the arena portion of the development would be paid for by private investors, but the plan would require an additional $200M for "additional costs" which are said to include infrastructure work. The organization would need city sales tax revenues to cover that balance.

So far, the only response coming from the city of Tempe on the proposal is that the evaluation process will take "several months".

Obviously, the development would not be ready to go in time for next season, so the Coyotes are also in search of a temporary home for at least the 2022-23 season and possibly even beyond that.

Source: Espn.com

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