The plan includes the construction of a 16,000-plus seat NHL arena for the Coyotes with an attached additional 4,000 seat multi-sport arena. The second arena will be utilized by Sun Devils Athletics, Coyotes practices, youth hockey practices and games and community events. These two new additional sheets of ice will continue to help grow the sport at the grass-roots level. In the future, a new hotel and other related amenities will be finalized as part of the second phase of the project.

"We are thrilled to partner with Catellus on this tremendous project that will include our future new home in the East Valley," said Coyotes Majority Owner, Chairman and Governor Andrew Barroway. "The Coyotes are committed to Arizona, and we are extremely excited about our bright future."

"As the first major partner for the ASU Athletic Facilities District, the Coyotes campus will generate momentum for this innovative, urban corridor," said Greg Weaver, Executive Vice President for Catellus Development Corporation. "We are excited to partner with the Coyotes for their new facility."

"Over the past year we have been exhaustive in our research regarding the most optimal location for our new home in the Valley," said Coyotes President and CEO Anthony LeBlanc. "While we have tremendous fans all across the greater Phoenix metro area, not to mention the entire state, it became clear that the East Valley is home to a majority of our fans and corporate partners. Our fans in the West Valley have shown us tremendous support over the past 13 years, and we look forward to working with them as we transition to our new home in the future."

The agreement provides for a period ending no later than June 30, 2017 to create the overall budget, design and operational plan for the development. The Coyotes will now focus on finalizing a partnership with other public sector constituents including the State and the City of Tempe.