Due to the team’s bankruptcy status since 2009 and the annual revenue lost each year, the NHL planned to move the Coyotes should a deal with the city for a new lease and new ownership not be decided by July 2, 2013. The plan was to move the franchise to a new city, likely Seattle. On July 2, 2013, by a vote of 4–3, the Glendale City Council approved a 15-year lease agreement with Renaissance Sports and Entertainment (RSE), who would purchase the team from the NHL for US$225 million by August 5, 2013. The members of the Canadian group are Executive Chairman & Governor George Gosbee, President, CEO & Alternate Governor Anthony LeBlanc, Alternate Governor Craig Stewart, and Directors Gary J. Drummond, W. David Duckett, William “Bill” Dutton, Robert Gwin, Scott Saxberg and Richard Walter. RSE partnered with Global Spectrum (owners of the Philadelphia Flyers) for help in managing Gila River Arena. The agreement has the city of Glendale giving RSE US$15 million per year for management fees. There is an agreement that RSE can move the team after five years, if it accrues $50 million US in losses.

On January 29, 2014, the new ownership group announced that the team would change its name to the “Arizona Coyotes” for the 2014–15 season. According to Coyotes President Anthony LeBlanc, the change is being made to reflect that the team is no longer located within Phoenix city limits and to include all hockey fans in the state of Arizona. Aside from a new shoulder patch, the team’s uniform design will not change.

The Coyotes played their final game under the Phoenix moniker with a 2–1 victory over the Dallas Stars on April 13, 2014. In front of 15,146 fans, David Moss scored the final goal in Phoenix Coyotes history with 2:31 left in the regulation time.