GLENDALE – (Staff and Wire Service Report) – The Arizona Coyotes finalized the sale of the team to businessman Alex Meruelo on Monday. With the sale, Meruelo becomes the majority owner of the franchise and the only Hispanic team owner in the NHL.
“This is an incredible moment for me and my entire family,” Meruelo said in a statement. “The Arizona Coyotes team is poised to do great things on and off the ice. I look forward to helping hockey continue to thrive in the desert, and I am committed to providing our passionate fans, loyal partners and the entire State of Arizona with a team they can be proud of for years to come.”
The sale to Meruelo — whose Meruelo Group is based in Southern California — was approved by the NHL Board of Governors in June.
In August 2011, Meruelo agreed to buy a majority stake in the Atlanta Hawks, but the deal fell through in November 2011.
Former sole owner Andrew Barroway will retain some ownership as a minority owner. Barroway joined the franchise in 2014 after buying 51 percent of the team. He became the sole shareholder in 2017.
“It has been an honor and a privilege serving as the Chairman and Governor of the Coyotes,” Barroway said in a statement. “I am proud of the work we did to make this organization better, and I am pleased to be passing the torch to someone who will guide this franchise to great days ahead.”
–Field Level Media