TEMPE, AZ — The owners of the former Arizona Coyotes hockey team are suing Arizona State University over a multi-million-dollar security deposit.
Court paperwork filed March 7 shows the team is suing the Arizona Board of Regents for a $3.5 million security deposit paid to the school.
Coyotes ownership argues in their filing that the "forced sale of the Coyotes hockey franchise" counts as an "force majeure event" as defined in their lease, and that it excuses them from fulfilling their end of the lease in what would have been the final year of the agreement.
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The team originally moved to Tempe after years of drama surrounding the team playing at what is now Desert Diamond Arena in Glendale.
The city ultimately terminated the team's lease agreement after the 2021-2022 season.
The Coyotes and ASU entered the agreement to play at Mullett Arena as a temporary home. The team originally wanted Tempe voters to approve a large development proposal that included a new arena near Priest Drive and Rio Salado Parkway.
Tempe voters ultimately turned down the arena proposal, leaving the Coyotes' future in the Valley in jeopardy.
After a short time looking into a plan for an arena in north Phoenix that ultimately fell through, former Coyotes owner Alex Meruelo sold the team to a group that moved the franchise to Salt Lake City.
