NHL insider reveals how much money Coyotes made in relocation deal

Over the past 48 hours, news has been trickling out regarding the relocation of the Arizona Coyotes to Salt Lake City. It's been revealed by David Pagnotta of the fourth period what the price tag is for the sale and relocation fee for the franchise.

It appears the cost of doing this transaction will be between $1.2 - $1.3 billion. Many have felt that this price is in range as the Ottawa Senators were sold for $980 million earlier this year. Meruelo originally bought the Coyotes for $300M, so he makes near $900M in profit in the deal.

This is a special circumstance as the NHL is trying to keep a franchise in the southwestern United States but not in the state of Arizona. This story grew bigger after the All-Star break when NHLPA executive director Marty Walsh was making his point clear that the PA was no longer interested in remaining at Mullett arena. Ryan Smith, owner of the Utah Jazz expressed strong interest in acquiring the Coyotes and moving them to the Salt Lake area.



This pending move has left fans reeling and quite angry with the sudden loss of their team. Many felt that the land auction that was scheduled to help build a new arena in Arizona was the saving grace for the team. It seems that's not the case and fans are taking to social media expressing their anger and betrayal by their owner.



It appears the players were told this evening that the relocation was confirmed. and will be travelling to Utah to see their new home, it appears the debacle in the desert is finally over.