While there is no word from the Coyotes or NHL up to this point, reports say there has been progress on the Coyotes' potential relocation to Salt Lake City.

According to Daily Faceoff's Frank Seravalli, the Arizona Coyotes and Smith Entertainment Group have made significant and meaningful progress on an agreement that would see the Coyotes franchise sold and relocated to Salt Lake City, Utah.

Seravalli also reported that Coyotes players have been informed that a verbal agreement is in place, but there has been pushback on that characterization of talks.

ESPN spoke to one anonymous player who said that they ‘don't know anything at all’ so there are conflicting reports on what the players may or may not actually be aware of.

According to the ESPN report, there could be two layers at stake here regarding the Coyotes’ transition from Arizona to Salt Lake City.

First, the NHL would purchase the Coyotes from Arizona’s owner Alex Meruelo for a deal worth around $1 billion.

League sources linked to ESPN say that the NHL would then sell the Coyotes to Utah Jazz owner Ryan Smith for as high as $1.3 billion.

Both the Coyotes and NHL have declined to comment on all of this per ESPN.

If the relocation of the Coyotes were to happen, ESPN writes that Meruelo would be first in line to purchase an NHL expansion team assuming the league wants to return to Arizona.

There are a lot of moving parts with this ongoing situation.

These shocking revelations come after the Coyotes announced just a few days ago that the organization is committed to winning an auction that will take place on June 27 for land in northeast Phoenix in order to build a new arena.

[embed]https://www.youtube.com/watch?v=ucS8y8NxhOk[/embed]

The team outlined their plan which includes a 17,000 fixed seats for NHL games and capacity for roughly 1,500 additional temporary seats for non-hockey events, a 150,000-square-foot practice facility and headquarters, a live music theater for 3,000 concertgoers, 400,000 square feet of retail and a multi-purpose watch party plaza equipped with a supersized screen for viewing events.

Everything is still up in the air until the NHL makes official confirmation on what’s really going on, but nonetheless there is a lot to unpack here.