Jump to content
The Official Site of the Vancouver Canucks
Canucks Community

Arizona Coyotes sold again.

on the cycle

Recommended Posts


Barroway has purchased 51 percent of the

Arizona Coyotes for $152.5 million.

The Arizona Coyotes have been sold. Again.

Despite speculation otherwise, Andrew Barroway has completed his purchase of the Arizona franchise and now owns a majority stake in the club. Barroway claims ownership to 51 percent of the Coyotes after investing $152.5 million into the operation. The NHL Board of Governors have approved the sale thus finalizing the deal.

IceArizona -- the company that purchased the Coyotes last year for $170 million -- came to an agreement with Barroway in October that would allow him to enter the organization as controlling governor. The last step to finalizing this process involved the Board of Governors approving the deal, which was expected to occur at their meetings in Boca Raton in early December.

However, it was revealed at the meetings that the matter would not be reviewed or voted upon. This, in addition to reports from the weekend prior, led to rampant speculation that Barroway was on the verge of backing out of the deal. Casey Gagnon of Arizona Sports Hub reports that the deal was in serious jeopardy several weeks ago. This could be why the agreement wasn't voted upon at the Board of Governors meeting as originally expected. Gagnon cites a league source and a source close to Barroway who both confirmed that Commissioner Gary Bettman knew the deal was in trouble at the Boca Raton meetings, but did not want to create a panic.

Bettman was quoted at the time as saying that an extensive amount of paperwork was holding up the process, via ESPN:

"A fair amount of the documentation underlying the transaction we only got the end of last week," explained Bettman. "The documentation has to be reviewed, we have to finish our due diligence, there has to be an interview.

"It would be nice for a whole host of reasons to get it done by the end of the year. With the holidays coming up, that may be an achievable result, it may not. But all of the parties are interested in moving it along as quickly as they can, as are we. But we have a process that we go through, and we have to check all the boxes. But based on the timing of the documents having been signed, there are a lot of boxes we couldn't get to yet. But we'll get to them shortly."

Reports at the time indicated that GM Don Maloney had been instructed to shed salary cap commitments. The team has not done so at the time of this writing. Whatever the holdup was regarding the sale, it has apparently been settled.

Link to comment
Share on other sites

If there is a Kansas City team before Quebec that would be sad.

My guess is there won't be. It will be at the same time, in 2016-17. By then the Quebecor Arena will have been open for a calendar year and they will be ready to operate. I still predict it will be Florida although their recent success might hamper that a bit. Even so they are last in the league in attendance by a wide margin. The business model of the arena ownership is the only wrinkle I see there. There could be an outside shot of NJ moving if their financial situation doesn't improve but I hope that's not the case. The Panthers are the least successful franchise in the East, monetarily.

I think that the NHL will relocate Phoenix by at least 2017-18 and they may not be willing to relocate two teams in a single season especially as they want to get LV in the league at the same time. Regardless, IMHO, these three moves will be concluded by that season and the Seattle expansion will be shortly thereafter.

Link to comment
Share on other sites

I like this, here's to your crystal ball ! ;)

Wait for it….

I wouldn't be surprised to see one of these moves happen for the start of next season. The NHL will want to be making huge headlines to increase interest and revenue every upcoming season for the next 5 years.

With the additions of new arenas in Brooklyn, Detroit, Edmonton, and probably Calgary and Ottawa already, adding new venues in LV, KC, QC, and Seattle will boost the profile and gate revenue of the league substantially.

Of course…. only my opinion. :P

Link to comment
Share on other sites


This topic is now archived and is closed to further replies.

  • Recently Browsing   0 members

    • No registered users viewing this page.
  • Create New...