The Arizona Coyotes have submitted a proposal to build an arena in Tempe, Arizona, after calling Glendale home since the 2003-04 season.
The bid for the new facility reportedly includes transforming 46 acres of land near Tempe Town Lake into an arena and entertainment district, but they will likely need an interim solution until the new venue is built.
Glendale said it would not renew its lease with the Coyotes at Gila River Arena last month, forcing the team and its administrative staff to move by June 30, 2022.
- A letter from Glendale city manager Kevin Phelps revealed that the Coyotes owe more than $1.4 million to the arena as of July 17.
- It also said that more than $300,000 of that is “over four months delinquent.”
In the letter, Phelps clarified that the city “agreed to forgo a significant amount of the money owed to the arena,” and that the Coyotes agreed to keep current with financial obligations in exchange. “That has not occurred,” he said.
AEG Facilities, the company that operates the arena, is paid $5.6 million by the city each year in a contract that lasts until June 30, 2026. The contract states that if the Coyotes leave, AEG can leave, too. But that might not happen — a study led by Phelps said 20 events of 10,000 or more attendees would “deliver the same economic effect” as the 43 home games.
Owner Alex Meruelo purchased the team for a reported $300 million in July 2019.