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Detroit Red Wings v Philadelphia Flyers Photo by Len Redkoles/NHLI via Getty Images

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Arizona Board of Regents approves plan for Coyotes to play games at ASU’s multi-purpose arena - Craig Morgan

The board’s decision means that ASU will be the Coyotes’ temporary home for at least the next three seasons as the team awaits word on its proposed Tempe arena on the south bank of Rio Salado. The board approved extending the lease beyond three seasons if needed.

Arizona State Executive Vice President, Treasurer and Chief Financial Officer Morgan Olsen also confirmed an earlier PHNX Sports report that the Coyotes will pay all associated costs for the annex up front, as well as paying the full cost of the term of their lease at the arena up front. The university will assume no risk.

Woo 5,000 fans!