PHOENIX — A nearly 100-acre plot of land at Scottsdale Road just north of Loop 101 is up for auction soon and Alex Meruelo is expected to be one of several bidders eyeing the land, according to a Land Department source.
Meruelo says he intends to build a new entertainment district, which would house an NHL stadium, in hopes of bringing an expansion team back to the Valley.
The NHL confirms that if Meruelo can have a new stadium suitable for an NHL team built within five years, then Phoenix would be granted an expansion team. Meruelo's group told ABC15 they are committed to winning the auction on June 27 to build a new stadium and entertainment complex.
That team would be able to use the Arizona Coyotes name again, as the team that moved to Utah takes a different name.
To even participate in the auction, according to Mark Winkleman, former Arizona State Land Commissioner, prospective buyers have to put down 20% of the minimum price — almost $14 million. The auction will happen at the Downtown Phoenix Land Department's offices. The highest bidder will have two years to pay off the land in full.
It's unclear who the other potential bidders could be and what their intentions for the land are.
Meruelo has not detailed his plan for what his next move would be if he does not win this auction.
