The NHL announced Monday that the sale of the Phoenix Coyotes to a group headed by George Gosbee and Anthony LeBlanc is finalized.
The transaction was approved by the league's Board of Governors, which terminated the NHL's ownership of the team.
"The National Hockey League believes in Arizona as an NHL market and that these new owners can provide the Coyotes the opportunity to secure a stable, long-term future in Glendale," commissioner Gary Bettman said in a statement. "We thank Mike Nealy, Don Maloney, Dave Tippett, team captain Shane Doan and all the players and staff for consistently going above and beyond on behalf of the franchise during this long and complex process. We thank the Coyotes' devoted fans for their patient, perseverant support. We are extremely pleased that a positive resolution has been achieved for the fans, the city, the Coyotes and the League."
The league had been operating the team since it went bankrupt in 2009.