Arizona Coyotes Owner Attempts to Steal Millions by Breaking Legal Contract

Arizona Coyotes owner Alex Meruelo shocked fans last year by selling the team for $1.2 billion and relocating it to Salt Lake City.

It marked the end of what was effectively a 30-year history of NHL hockey in Arizona when long-term arena plans collapsed. Though the team has relocated, the Coyotes' previous ownership group, IceArizona, remains Arizona-based.

It sued the state Board of Regents, which governs state universities, in Maricopa County Superior Court on Friday for a $3.5 million security deposit on Mullett Arena.

The Coyotes played their last two seasons at the 5,000-seat arena on the Arizona State University campus. Though the team has relocated, IceArizona is seeking a refund.

The Coyotes had signed a three-year lease with the board of regents and arena owner OVG Venues.

But in a turn of events, within days of the last few days of the 2023-24 season, Meruelo stunned all by selling the team to Utah Jazz-owned NBA member Smith Entertainment Group.

IceArizona claims the NHL forced the ownership to sell, triggering a "force majeue" clause of the lease that would have ended continuing obligation and returned their deposit.

The board, though, and OVG, have not argued otherwise, so the deal was not canceled and a third year's rent was payable.

As a compromise, the IceArizona minor-league affiliate Tucson Roadrunners would have games at Mullett Arena, but only a few games were agreed to by the board through a vote.

The lease was originally to be for NHL events and NHL events alone, and any deviation of the lease needs to be approved by the board. There has been no comment on the lawsuit from the board or IceArizona.