Did the Utah Mammoth's Relocation Pay Off?

The Utah Mammoth are the newest face in the National Hockey League, as the Central Division side were founded in 2024 as Utah Hockey Club, after the Arizona Coyotes ceased operations in the Copper State that same year. The relocation was the first that the league had seen since 2011, when the Atlanta Thrashers moved north to become the Winnipeg Jets — a franchise with the same name had moved to Arizona in 1995 to become the Phoenix Coyotes, who would later become the Arizona Coyotes, so it's all gone a bit full circle. Like any major move, the Mammoth's founding sparked strong reactions from both sides. Some supported the move, as many believed that Arizona's model had been failing for years and wasn't feasible for a franchise in the National Hockey League. Others believed that the move was unnecessary, or that the team should have landed in a market other than Utah.

Regardless of what people's views on it were, Utah Hockey Club commenced their inaugural NHL season in 2024 and rebranded to Utah Mammoth in 2025. And now, just two years after being founded, they've clinched a berth in the Stanley Cup Playoffs for the very first time. It begs the question: has the relocation paid off?

There's quite a bit that goes into setting up a new professional hockey franchise, but none of it is as important as the results happening down on the ice. The Mammoth's first season saw them finish 6th in the Central Division. Although this wasn't sufficient to guarantee a playoff spot, it was still a better result than the Coyotes' last three consecutive regular season finishes. They built on that this season, finishing 4th in the division and guaranteeing a spot in the Stanley Cup Playoffs — something the Coyotes had done once in their last twelve seasons, when they bowed out in the first round following a defeat to the Colorado Avalanche in 2020. As of writing this, the Mammoth are 2-1 up in their first-round series against the 2023 Stanley Cup champions and current Pacific Division Champions, the Las Vegas Golden Knights. The Mammoth have been playing some good hockey, and although that is what's most important, there's also another side of running any professional sporting franchise that is crucial to success: the commercial side of operations.

The Arizona Coyotes generated $120 million in revenue throughout their final season in the NHL — which may seem like a lot, but it was the lowest amount generated by any team in the league that year, which makes sense given they went on to cease operations. The Utah Mammoth generated an estimated $195–200 million in both 2024 and 2025, which is a steady improvement in itself. Forbes values the Mammoth at $1.45 billion, and although that puts them 27th in the league, their one-year change of 21% is the second highest in the league, with the Carolina Hurricanes' change of 60% being the only franchise above them.

For comparison, the Seattle Kraken had a one-year change of 16% after their second season in 2023, and the Las Vegas Golden Knights had a growth of 1% after their second season in 2019 and were valued at less than half the Mammoth's current value — keep in mind that Seattle and Las Vegas are both considered to be bigger markets than Salt Lake City. To put it simply, the Mammoth are making more money than the Coyotes were, and they're growing at a rapid rate. Sports can be an unpredictable industry financially, and there's no way of knowing how these numbers will hold up — however, Mammoth owner Ryan Smith really couldn't have wished for things to have gone better through his first two seasons in the NHL.

One last metric that needs to be considered is the very thing that breathes life into any sports team — and that is, of course, the fans. The Arizona Coyotes lost their tenancy at Gila River Arena in 2022, which had served as their home since 2003. The club were unable to pay the $1.3 million in taxes they owed to the city of Glendale and were forced to move to Arizona State University's Mullet Arena. This was deemed the beginning of the end for the Coyotes, as Mullet Arena's NHL capacity of 4,600 was a significant downgrade from Gila River Arena's 17,125. Even before the stadium switch, the Coyotes were only averaging 11,601 fans per game during the 2021–22 season — the third worst in the league. In 2023, a proposal to build a new stadium in Tempe was rejected, and a second proposal in Mesa fell through for unknown reasons. A last-ditch effort saw the Coyotes attempt to buy land near the border of Phoenix and Scottsdale after a third stadium proposal was rejected in early 2024, but their efforts simply weren't good enough. The interest wasn't there, and the money wasn't there.

Since beginning operations in Utah, the Mammoth have played their home games at Delta Center — also the home of the NBA's Utah Jazz, which is likewise owned by Ryan Smith. It wasn't the first time the stadium had seen ice hockey, as it was home to the minor league Salt Lake Golden Eagles from 1991–94 and the Utah Grizzlies from 1995–97. The stadium has a capacity of 16,020 for NHL games, and the Mammoth's inaugural season saw an average attendance of 11,131. That number rose to 12,478 the following season — a 12.1% increase, the second highest in the league. Low attendance isn't the most surprising thing in the early stages of a franchise, but the fact that these numbers are growing is incredibly promising. If the on-ice product continues to improve, attendance will follow, and revenue will be next. Although they're only in their infancy, the Utah Mammoth appear to have a strong business model — one that could live up to the potential envisioned by those who launched this endeavor back in 2024. There's no way of knowing what the future holds, but there's plenty to be positive about through two seasons, and plenty of reason to believe the relocation from Arizona could very well pay off.