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The Arizona Coyotes are closer to finding a permanent home in the Valley, as the team intends to buy land in Mesa.

There is a major update regarding the Arizona Coyotes search for a new arena and permanent home.

Coyotes owner Alex Meruelo has executed a letter of intent to purchase a parcel of land in northwest Mesa to be a potential new arena and entertainment district for the franchise.

“The Coyotes remain committed to building the first privately funded sports facility in Arizona history and ensuring the Valley as the Club's permanent home,” the Coyotes said in a statement Wednesday. “In addition to this property in Mesa, the Club will continue to explore other potential sites in the East Valley.”

Originally, the Coyotes had the eyes set on building a sports and entertainment district in Tempe but the plan was rejected in a special election vote on May 26 leaving the team scrambling to find a permanent solution.

Local politicians in Arizona and NHL Commissioner Gary Bettman have remained adamant on keeping hockey in the Valley which the Coyotes are grateful for.

"We appreciate the tremendous support that we have received from many communities, elected officials, and community leaders who have expressed their desire to see the Coyotes remain in the Valley permanently, " the team stated. “We would also like to thank NHL Commissioner Gary Bettman and Deputy Commissioner Bill Daly for their steadfast support of the Club's efforts to find a permanent arena solution, and for their recognition that Arizona is a tremendous hockey market.”

The Coyotes plan to play at the 5,000 seat Mullett Arena for this upcoming season as the team continues to sort out its plan for the future.