In addition, Gambadoro said the franchise would essentially split in two, with much of the hockey side headed to Utah and the business side staying in Arizona.

Emily Kaplan of ESPN later confirmed those reports on Saturday.

The deal with the NHL is reminiscent of how the Cleveland Browns came back to life in 1999, only this time, the owner stays behind. In 1996, the NFL agreed to let owner Art Modell start the Baltimore Ravens with the team’s roster and personnel, but the Browns’ name remained with the city of Cleveland.

Days after word of the Coyotes’ potential move to Salt Lake City, Utah, began to spread, Meruelo finally commented on the situation.

“We are focused on a myriad of issues that are unresolved, and therefore we are unable to make any official public comments at this time,” Meruelo’s statement read. “However, you have my commitment that I am going to speak on all of these issues and publicly address all of your concerns as promptly as possible.”

Meruelo’s agreement with the NHL is contingent upon building a new arena in Arizona, which might be easier said than done. The Coyotes reportedly planned on bidding on a parcel of land in north Phoenix, which is likely to be Meruelo’s plan of attack moving forward.

On April 5, the Coyotes released images of what they plan to build on the 95-acre area, including an 18,500-seat arena (17,000 for hockey), team headquarters and practice facility, along with a 3,000-seat live music theater, 400,000 square feet of retail space and housing units. At the time, Coyotes president Xavier Gutierrez told ESPN that the hope was to break ground in 2025 with completion in time for the season opener in 2027.