Coyotes Plan $400 Million Hockey Arena for Tempe
The proposed deal would make the Coyotes one of the first tenants in Arizona State University's Athletic Facilities District, but it would need approval from lawmakers when they convene in January.
The team said it does not yet have any lawmakers lined up to push needed legislation through the Republican-controlled Legislature. The National Hockey League franchise also would need concessions from ASU as part of a land lease.
At this point, it is unclear if there is state support for the plan. No ASU officials or lawmakers attended Monday's announcement, and Gov. Doug Ducey's office declined to comment on it.
Coyotes majority owner Andrew Barroway promised a "world-class facility" would be built near ASU to house a team that has migrated from Canada to downtown Phoenix and on to Glendale — looking each time for greener financial pastures.
The franchise, once in bankruptcy protection, has lost tens of millions of dollars annually. Barroway said the Coyotes finally might break even with a new Tempe arena.
The public's contribution to development costs would come from a portion of sales taxes generated by the arena, a proposed luxury hotel and a mixed-use commercial development at the site. The team floated a similar idea for a special taxing district earlier this year, but lawmakers told the Coyotes to hold off until 2017.
If successful, the building would open for the 2019-2020 season. Until then, the Coyotes would keep playing in Glendale.
“It’s good news. It’s early," said Coyotes coach Dave Tippett. "There’s a lot of us who have been through a lot of this before. Hopefully, everything turns out as wonderful as it sounds.”