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The NHL Board Of Governors unanimously approved the establishment of a new hockey franchise in Utah by Ryan and Ashley Smith and Smith Entertainment Group (SEG) using the assets of the Arizona Coyotes.
In addition, the board approved a future reactivation of a franchise in Arizona if certain conditions are met.
“Effective at closing, the approved transactions will result in the Coyotes’ franchise transferring the totality of its existing hockey assets - including its full Reserve List, roster of Players and draft picks and its Hockey Operations Department - to the Utah franchise,” read the press release from the National Hockey League.