Report: Andrew Barroway to buy out Coyotes' minority owners
It appears Andrew Barroway is on the verge of getting even more power over the fate of the Arizona Coyotes.
According to Sportsnet’s John Shannon, Barroway, who became majority owner of the team in 2014, is buying out the minority owners of the team to claim a bigger piece of the pie.
For now, what that means is a touch unclear. The hedge fund manager could be trying to bring in new investors to join the ownership group, or perhaps he’s simply seeking a bigger stake that he intends to keep for the time being.
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Either way, Barroway is making a greater investment in a challenged franchise. The Coyotes have an arena situation that’s in flux as they are seeking public money for a new place to call home. Last season the team managed to attract just 13,094 fans per home date at Gila River Arena – the 29th best total in the league – and sold only 76.5 percent of its seats.
From an on-ice perspective, the Coyotes haven’t made the playoffs since the 2011-2012 season, finishing as the 10th seed in the Western Conference in three of the last five years. In 2016-2017, they managed a 30-42-10 record and were led in scoring by 35-year-old Radim Vrbata.
Whatever Barroway is planning, it’s not going to be easy.
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