ASU pulls out of potential partnership with Coyotes on arena deal

Arizona State University has pulled the plug on the Arizona Coyotes' proposed new home in Tempe.

School officials announced Friday that it "has no intention of proceeding to sign a development agreement or an option to lease or any other agreement with the Coyotes," according to azcentral.com.

Coyotes CEO Anthony LeBlanc released a statement shortly after, via ABC15 Sports.

While a new Coyotes arena built with ASU would have been a big winner for our fans, taxpayers, the university, and our team, the Coyotes had and continue to have a number of options for a new arena.

Nevertheless, the Coyotes are committed to the Valley for the long term, and we will continue to explore other options that will ensure a successful future for the team and our fans. We're a determined bunch - on the ice and off the ice. We intend to do everything we can to keep NHL hockey here in Arizona.

Back in November, the Coyotes held a press conference unveiling a proposal to build a new East Valley facility with an NHL-standard rink and an attaching multi-sport arena for the Sun Devils, as well as community usage.

At that time, the Coyotes had entered a negotiation agreement with no formal plans finalized.

The Coyotes' relationship with Glendale City Council, and the municipality they have called home since 2003, has been strained throughout many years of contentious negotiation.

Glendale City Council voted to end its lease agreement with the Coyotes in June 2015.

ASU's decision to disengage from the proposal doesn't mean it isn't investing in athletics. Cronkite News reports the school is in the advanced stages of raising $1.5 billion for projects that will boost ASU's athletic profile, including an "Olympic Village" where top-end athletes can train and live.