Smith likely would have been one of the top goalies in the free agency market, but said his preference was to stay in Phoenix as long as there was clarity in the team's ownership.
The NHL has agreed to sell the franchise to RSE, but the deal is contingent upon the group working out a lease agreement with Glendale for Jobing.com Arena. Tuesday's vote is still in doubt, leaving open the possibility that the franchise could be relocated — the NHL has indicated that would be the likely next option — but Smith decided to sign anyway.
"I'm thrilled to re-sign with the Coyotes," Smith said. "We have a great young team and an excellent coaching staff and management team. I've really enjoyed playing in the Valley the past two seasons and this is where I wanted to stay."
Even as the four-year ownership saga labored on, the Coyotes have shown signs of stability over the past few weeks, signing Maloney, assistant GM Brad Treliving, coach Dave Tippett and his assistants in recent weeks. Phoenix also signed captain Shane Doan before the 2012-13 season and locked up young defenseman Oliver Ekman-Larsson with a long-term deal in March.
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