Overview

• The Arizona Coyotes are set to bid on a 95-acre parcel of state trust land in North Phoenix for a new arena, with the auction scheduled for June 27.
• Owner Alex Meruelo is committed to winning the auction, amidst rumors of gauging interest in selling the franchise for $1 billion.
• The planned $3 billion development includes a 17,000-seat arena, practice facility, and additional entertainment and residential spaces.
• Construction could begin in 2025, with the arena opening targeted for late 2027, ahead of the hockey season.
• The project is to be privately funded, though the team may seek a special taxing district to finance construction.