The NHL’s Arizona Coyotes have submitted a proposal for a $1.7 billion arena and entertainment complex in Tempe, Arizona.
The Coyotes’ plan calls for roughly $200 million from taxpayers, but the team reportedly plans to pay for the remaining costs.
A 16,000-seat arena, the team’s headquarters, and a practice rink would all be located within the complex. There are also plans to add hotels, retail stores, apartments, and a theater.
The team has called Glendale home since the 2003-04 season but lost its lease at Gila River Arena when the city decided to not renew.
In August, Glendale city manager Kevin Phelps said that the Coyotes owe more than $1.4 million to the arena as of July 17.
In addition to the Coyotes’ potential new home, the franchise announced a rebrand.
- The team will change its primary logo back to the popular “Kachina” graphic.
- It will also wear red Coyotes head jerseys for eight games during the 2021-22 season.
Real estate and media mogul Alex Meruelo purchased the Coyotes for a reported $300 million in July 2019. As of December 2020, the team is valued at $285 million — the least valuable franchise in the NHL, per Forbes.