The Coyotes’ offseason is almost always accompanied by ownership and arena news. The latest news came from Sportsnet’s John Shannon in the form of a tweet on Wednesday.
NHL source confirms there will be an ownership change in Arizona, with the Coyotes. Andrew Barroway will have a minority position.
— John Shannon (@JSportsnet) May 22, 2019
It’s no secret that Coyotes owner Andrew Barroway has been looking to sell all or a portion of the team. Those efforts have been ongoing for more than a year, but league sources said Wednesday that it is premature to say that a change in ownership is imminent or that the sale will even be completed. Those same sources acknowledged that conversations/negotiations are ongoing with what they termed “a well-funded group,” but those same sources said there are multiple material issues that must be worked out.
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The Coyotes have been down this road with previous potential investors, who looked into the possibility of purchasing the team, then fell by the wayside for various reasons.
If multiple issues can be worked out in talks with the current group, it’s conceivable there could be an NHL Board of Governors vote on an ownership change this summer, the sources said. Sources also confirmed that in the negotiations with this current group, Barroway would retain a minority share whose amount is still undetermined.
There is also no provision or out-clause being discussed to move the team to another city if it continues to sustain losses. If the deal goes through, it would be to keep the team in Arizona.
It is unclear how the organization’s desire for a new arena fits into the ongoing talks. NHL commissioner Gary Bettman is on record as having said the team must have a new arena to survive in Arizona. Bettman declined comment on the report or the league’s current stance on the arena, Wednesday, referring all inquiries to the team. When reached by phone, Coyotes president Ahron Cohen declined comment on the report.
Barroway has been the Coyotes’ sole owner since buying out the other members of the IceArizona group on June 12, 2017.
“I wouldn’t say it wasn’t working, it was just a lot of voices,” he said at the time. “We had 10 different limited partners. Anyone who has been in business, with 10 partners there’s going to be some different opinions sometimes, but it was always my dream to own the entire thing and that’s why I doubled down on my investment.”
Amid rumors of relocation, IceArizona completed its purchase of the team from the league in August 2013.
(Photo: Mark J. Rebilas / USA Today Sports)