Today marked a significant development in the world of hockey, as reports surfaced indicating that Arizona Coyotes owner Alex Meruelo is exploring the possibility of selling the franchise.

This revelation comes after years of speculation, with Meruelo now actively seeking potential buyers for the team, which has been housed in a college arena for quite some time.

The NHL had previously set a deadline, roughly around All-Star weekend, to determine the future of the Coyotes. However, like many expected, the deadline came and went without a resolution, leading to discussions about alternative paths for the team’s future.

John Gambadoro of Arizona Sports highlighted the news, reporting that Meruelo has been in talks with various interested parties, both within and outside the state, to gauge their interest in purchasing the franchise. It’s reported that Meruelo has set a lofty price tag of over $1 billion for the team, a figure significantly higher than its current valuation.

Despite the high asking price, discussions with potential buyers continue, indicating a potential shift in ownership on the horizon. While the price may seem steep, especially for any prospective owners considering relocation, the prospect of removing this financial burden from the league is seen as a positive development for the hockey community and the NHL’s financial outlook.