The Arizona Board of Regents has accepted a proposal from the Arizona Coyotes to let the team play at Arizona State University’s multipurpose arena for the next three years.
The Coyotes currently have a proposal before the City of Tempe to create an arena and entertainment district on 46 acres of City-owned land but must secure a temporary home until a permanent site is located or constructed.
The Coyotes first approached ASU to inquire about using the school’s currently under construction multipurpose arena in December.
As part of the arrangement, the Coyotes will invest approximately $20M in equipment upgrades and a 15KSF annex for separate locker rooms, training facilities and team offices in addition to annual lease payments.
The license agreement between arena Oak View Group and the team has not been finalized.
As the general contractor for the arena, Mortenson Construction will also build the team annex. Total costs for the arena and the annex are $134.7M. (Source)
