The plan to build a proposed Arizona Coyotes arena in Tempe, near Tempe Marketplace, has been killed.
On Friday, ASU released a statement saying that is has no intention of signing a development agreement, an option to lease, or any other agreement with the Coyotes.
ASU did not give a reason for why it has no intention of moving forward with the arena plan.
In November 2016, Catellus Development Corporation, ASU’s master developer of the Arizona State University Athletics Facilities District, entered a negotiating agreement with IceArizona Holdings, Coyotoes’ holding company, to produce a development plan for a new arena, ASU stated.
The arena would have been developed on about 58 acres near McClintock Drive and Rio Salado Parkway. The district would have included a facility for the Sun Devil Athletics to use.
The Arizona Republic reported, that Coyotes President and CEO Anthony LeBlanc stated: “Unfortunately, it appears the ASU deal will not being moving forward,” he said. “We will continue to explore other options that will ensure a successful future for the team and our fans.”
Before the agreement was cancelled, an overall budget, design and operational plan was to be created by June 30. The arena would have been built where the ASU Karsten Golf Course is currently located.
The Arizona Coyotes play in Glendale at the Gila River Arena, and have been looking to leave the West Valley. There has been a lot of conflict around its current home.
Last April, Glendale entered into an agreement with a third-party company to manage the arena after the city terminated the arena-management agreement with the team.
Taxpayers owe nearly $150 million for the arena, according to the Arizona Republic.
