Arizona Coyotes: Ownership deal is on track despite rumors
Dec 8, 2014, 7:54 AM | Updated: 5:36 pm
PHOENIX — If it’s a day that ends in “y” ownership of the Arizona Coyotes must be in flux again.
A New York news outlet reported that the deal to sell the hockey team to Philadelphia hedge-fund manager Andrew Barroway is breaking down and he is ready to bolt.
The New York Post reported:
Remember how a few short weeks ago Andrew Barroway was on the verge of gaining majority control of the Coyotes, the news first reported by The Post?
Not so fast, for now comes word from a plugged-in source that the deal appears to be falling apart, with Barroway seemingly on the verge of backing out.Slap Shots has been told the current ownership has directed GM Don Maloney to shed payroll … which would mean stripping the club with the league’s third-lowest payroll into a bare-bones operation.
The Coyotes released a statement from co-owner Anthony LeBlanc Monday on Twitter to quell the rumors.
Ownership update from @anthonydleblanc: “Commissioner Bettman provided a detailed update on the transaction to the board including (more)..”
— Arizona Coyotes (@ArizonaCoyotes) December 9, 2014
.@anthonydleblanc: “(cont)..the fact that the paperwork was finalized late last week. We will be working w/ the league to finalize (more)…
— Arizona Coyotes (@ArizonaCoyotes) December 9, 2014
.@anthonydleblanc: “(more)…this process and are on track to close before year end.”
— Arizona Coyotes (@ArizonaCoyotes) December 9, 2014
Barroway is set to buy 51 percent of the Coyotes for majority ownership. IceArizona would retain 49 percent. When the deal was announced in October, NHL Commissioner Gary Bettman called it “good news.”
The NHL took over the team in 2009, when the Coyotes were going through bankruptcy proceedings.
Over a year ago, businessman Greg Jamison made a bid for the club but that sale fell through.
