Coyotes franchise already looking to make comeback to NHL

The other component would be to pay back the billion dollars he's receiving from this sale if he is successful as this would be his expansion fee. The NHL is very reluctant to abandon one of the fastest growing areas in the United States as the Metro Phoenix area is close to 5 million people.

It's been a whirlwind week for the coyotes franchise as many fans felt that their beloved team would be saved as a land auction was planned on June 27th. The premise would be to lock in land to allow a new arena to be built. But it became clear that the NHL, NHLPA and the current ownership could not allow their situation to continue, and a deal was struck between Smith and Meruelo.

Many eyes will be watching this situation as the sale will need to go to the NHL Board of Governors for approval. The NHL will also be monitoring his progress on whether Mereulo can secure land and a arena to reactivate the coyotes. Many feel that he will not be successful, and that the NHL will not be in Arizona for several years.