Barroway secures deal for 51 percent of Coyotes

GLENDALE, Ariz. (AP) — IceArizona has agreed to sell a majority stake of the Arizona Coyotes to Philadelphia hedge fund manager Andrew Barroway.

The sale and ownership transfer must be approved by the NHL’s Board of Governors. If the deal is completed, Barroway will serve as the team’s chairman and governor.

IceArizona purchased the Coyotes last year from the NHL, which ran the team for four seasons after Jerry Moyes took it into bankruptcy, The Coyotes said in a statement Friday that Barroway’s purchase of a 51 percent stake in the team will strengthen its long-term future in Arizona.

Barroway, managing partner of Merion Investment Management LP, previously tried to buy the New Jersey Devils and New York Islanders.

WIVB.com provides commenting to allow for constructive discussion on the stories we cover. In order to comment here, you acknowledge you have read and agreed to our Terms of Service. Commenters who violate these terms, including use of vulgar language or racial slurs, will be banned. Please be respectful of the opinions of others. If you see an inappropriate comment, please flag it for our moderators to review. Note: Comments containing links are not allowed.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s