Maloney's current contract expires June 30.
It was originally believed that the Coyotes would not re-sign Maloney, due to the uncertainty surrounding the future of the franchise.
Once Maloney is locked up, the Coyotes will shift their attention to head coach Dave Tippett, whose contract also expires June 30.
The NHL continues to negotiate with several prospective ownership groups interested in purchasing the Coyotes.
Citing sources, FOX Sports Arizona claims every group currently in the mix has vowed to increase payroll in order to make the team competitive.
After Maloney is signed and Tippett's future becomes clear, the Coyotes will attempt to re-sign goaltender Mike Smith.
According to FOX Sports Arizona, Smith is believed to be asking for a long-term contract worth between $6 million and $7 million per season.