The Arizona State Land Commission may have canceled an upcoming bidding for land where the former group’s owners planned to construct a$ 3 billion industry and leisure complex in anticipation of a born franchise.
On Thursday, the bidding for 95 acres of land in northern Phoenix on the borders of northern Scottsdale was scheduled to go up for$ 68. million. Owner Alex Meruelo of the property, which is already designated for for a purpose, must then apply for a Particular Use Permit, according to the commission’s statement.
” This extraordinary activity really jeopardizes the future of NHL hockey returning to the plains”, the Wolves, who were surprised by the decision, said in a statement.

That’s an exaggeration. After the 2023-24 season, the sports activities and people were relocated to Salt Lake City in a package that closed on June 13. Utah Jazz user Ryan Smith purchased them for$ 1.2 billion a time. The Utah Hockey Club has since been given its current name, and the team will play at the Delta Center in October.
If Meruelo wants to build a new arena that is finished in five years, he was paid$ 1 billion, but he still owned the team name, trademarks, and rights to an expansion franchise. In that event, he would pay back the$ 1 billion to the NHL and start from scratch.
In response to the statement, the Wolves threatened to look into” all of our constitutional options” in light of the State’s careless choice.
But in reality, Meruelo’s choice are very limited. NHL commissioner Gary Bettman stated at a local press conference in April that he ca n’t sell his option to anyone else. The day after the Coyotes ‘ final home game in Arizona, he was speaking at a press conference there. And if a number of dates are missed without the area being built, Meruelo will lose those rights, leaving Arizona as yet another area in range for an expansion team.
Phoenix governor Kate Gallego informed Meruelo in the interval that she was not in favor of giving him any tax breaks to create a new facility. She is n’t interested in another area in particular, which is in competition with the Phoenix, home of the sports Suns and Mercury, in which she plays.
He is now unsure of what Meruelo and the NHL may do, according to an outsider with information of the circumstances.
The reality is that the selection will result in yet another significant pause that was completely destroy the deal.
The committee stated in its decision that” we understand the wait in an auction is a sorrow for our claimant and members of the public,” but that the timing change was reasonable.