The Coyotes lost their lease at Gila River Arena when the City of Glendale decided not to renew it and has since left the team scrambling for a place to call home.
The Arizona Coyotes have submitted a plan for a $1.7 billion arena and entertainment complex in Tempe which would become the team’s new home if it’s approved.
The plan includes a 16,000-seat arena near Priest Drive and Rio Salado Parkway along with the team’s new headquarters and a practice rink. In addition, an entertainment district along Tempe Town Lake with hotels, restaurants, stores, a sports lounge, and a theater, according to conceptual renderings released on Monday.
Specific financial details about the proposal have not been released, however, in an interview with the Arizona Republic, team officials said the $1.7 billion project would mostly be financed by private investors, though those officials also want $200 million in generated city tax revenues to fund additional developments, and a property tax abatement.
At this point, it is just a proposal.
Over the summer, the City Tempe put out a request for proposals, to see if any developers were interested in bidding to build an arena and entertainment district on 46 acres of land near Priest Drive and Rio Salado Parkway. The submission window closed in early September and the Arizona Coyotes were the sole applicant in the process.
There is no concrete timeline for when construction could, if ever potentially begin. The city has said it needs several months to study the proposal, the economic potential and environmental impacts. If the decision is to move forward, negotiations with the team and developers will begin.
Owner Alex Meruelo has said he plans to keep the Coyotes in Arizona. The franchise is searching for a temporary home to use following the 2021-22 season. The team has actively been exploring potential new arena options for several months and are confident that they will have a solution in place for the 2022-23 season.
In addition to the proposal, the team also announced a rebranding on Monday, bringing back the Kachina as its primary logo.
“The focus is on the concepts of youth, authenticity, inclusivity and a forward-looking perspective,” according to the team’s website. “Coyotes President and CEO Xavier Gutierrez believes the cool and edgy focus will break from the traditional NHL stereotype.”