The Coyotes released an official statement on the matter, stating:
“We can confirm that Coyotes Owner, Chairman & Governor Alex Meruelo has executed a Letter of Intent to purchase a parcel of land located in Mesa, Arizona to be the potential site for a sports arena and entertainment district for the Club,” the statement said. “The Coyotes remain committed to building the first privately funded sports facility in Arizona history and ensuring the Valley as the Club’s permanent home.