If they build that new arena near Scottsdale, the NHL will return with an expansion team.
The team did okay in downtown Phoenix at the old America West Arena...but it wasn't built for hockey and had bad seating/sightlines.
Then the move to Glendale kind of coincided with the team's on-ice performance going down the tubes. Off-ice things weren't going much better with a succession of cash-poor or uninterested owners and all that drama. And it's been kind of 20 straight years of the team sucking and off-ice drama.
Also, that arena location in Glendale was quite distant from where the money is in the Valley (edit: the red is lower income, the green higher income areas):
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