Arizona Coyotes’ New Mullett Arena Brings Hype, Derision And 2 Opening-Weekend Losses
The City of Glendale announced in August that it would not renew the Coyotes' lease at Gila River Arena beyond the 2021-22 season. Current owner Alex Meruelo bought a majority share in the team for an estimated $300 million. Meruleo agreed to contribute nearly $20 million in add-ons to bring the facility up to NHL standards. The annex is expected to be ready by December. This fall's season-ticket revenue was up by 50% from what it was in previous years. The limited capacity at their new home has caused concern that the club will be unable to pull their own weight financially.
