The third part of the “Who Owns Who? Zoom on NHL owners and their portfolios” series is here. If you missed it, the last part was focused on the Seattle Kraken. Today, I’ll look at the Arizona Coyotes.
The Arizona Coyotes are a professional ice hockey team established in 1972. The team is currently valued at $450 million and is ranked as the 32nd most valuable organization in the NHL. Arizona’s value has increased by 12.5% from the previous year.
Let’s take a look at the Arizona Coyotes owners’ activities and portfolios.
Previous owner Andrew Barroway first acquired a 51% stake in IceArizona Acquisition Co., LLC in 2014 for $152.5 million from then-president of Yotes, Anthony LeBlanc, who had previously saved the Coyotes from bankruptcy.
One of the most significant moves of LeBlanc’s reign was to change the team’s name from Phoenix Coyotes to Arizona Coyotes. He wanted to make the franchise a statewide entity to attract more fans.
Barroway’s takeover came just a few months after he failed to purchase the New York Islanders and filed a lawsuit against then-owner Charles Wang (which he dropped simultaneously with purchasing the Coyotes).
In 2015, Barroway struggled with payments, which led to discussions about freezing his majority rights. However, this did not happen, and in 2016, he acquired an additional 3% stake. In 2017, he bought out all other shareholders and became the sole owner.
Barroway is a hedge fund manager; most of his wealth comes from this profession. He and the city of Glendale bear significant responsibility for the Coyotes’ current state.
Meruelo, on the other hand, took over his father’s clothing business and opened a pizza restaurant when he was 23. Within five years, La Pizza Loca had 12 branches, and Meruelo decided to establish a development company.
He owns Fuji Food, hotels with casinos in Vegas, and an island. Colom Island has an area of around 0.58 square kilometers and is located near the northeast coast of Menorca. He purchased the island in 2018 for $3.2 million.
In 2011, he unsuccessfully attempted to purchase the Atlanta Hawks. The NBA has more potential to expand its popularity, making it a popular choice among investors. He does not own any other sports team, but one may expect him to expand his portfolio in the upcoming years.
In 2021, Barroway purchased a 90% stake in the Greek soccer club G.S. Kallithea for €300,000.
Barroway’s stake in the Coyotes is approximately 5%, but his owner’s role is indefinitely suspended due to his arrest in a domestic violence case.