Utah Hockey Club inks $900M deal to stay in Salt Lake City for 30 years

The Utah Hockey Club secured a taxpayer-funded agreement worth $900 million to remain in Salt Lake City for the next 30 years.

In a recent development, Ryan Smith, owner of the Utah Jazz and Utah HC, has secured $900 million in public funding for arena renovations and a three-block sports and entertainment hub.

The agreement mandates that the Utah HC must play all home games in Utah over the next 30 years. This commitment ensures their presence in Utah, avoiding any potential relocation scenarios akin to the Arizona Coyotes' recent move.

Additionally, if the team wishes to play games in Europe or participate in outdoor events, they must do so as the away team to circumvent repercussions in Utah.

"Jazz and Utah Hockey Club owner Ryan Smith is close to finalizing a deal with Salt Lake City that would see the teams be required to play all of their home games in the Delta Center for the next 30 years or face significant penalties," according to a front-page piece by Gehrke & Miller of the SALT LAKE TRIBUNE. In exchange for $900M in public financing to "renovate the arena and develop a three-block sports and entertainment district."

This marks a stark contrast with the Arizona Coyotes. Alex Meruelo faced significant challenges without sufficient state support and had to abandon his vision of owning an NHL team when he failed to acquire the land for a new arena.

Previously on Hockey Trade Rumours

Former Penguin officially signs new contract with the St. Louis Blues

Toronto loses key player Kieffer Bellows as he joins the Nashville Predators

Free agents hesitant to sign with Toronto due to Mitch Marner saga

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4 JUILLET \| 262 ANSWERS Utah Hockey Club inks $900M deal to stay in Salt Lake City for 30 years Do you believe Utah HC made the right choice signing the $900M taxpayer-funded deal to remain in Salt Lake City for 30 years?
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