Coyotes Managing Owner & Chair Andrew Barroway has "completed his buyout of the team’s minority owners, making him the sole owner of the franchise," according to sources cited by Craig Morgan of ARIZONA SPORTS. The buyout means that all members of the IceArizona ownership group that purchased the team from the NHL in August '13 "will no longer be with the organization." That list includes co-Owner and Alternate Governor George Gosbee, co-Owner, Alternate Governor and President of Hockey Operations Gary Drummond, President & CEO Anthony LeBlanc, and co-Owners David Duckett, Bill Dutton, Craig Stewart, Scott Saxberg and Robert Gwin. Barroway had "initially considered bringing in additional investors" such as the Rays' Randy Frankel, but this buyout was "completed through a loan with MGG Investment Group, a specialty finance group focused on direct lending." Sources said that Barroway was also "able to remove the NHL’s portion of the loan through MGG." It is "possible Barroway will add investors in the future, but there is no immediate intention to do so." There is "interest from at least two groups in either buying a portion of the team, or all of it from Barroway." Morgan noted the Coyotes "still need a new arena" after NHL Commissioner Gary Bettman "closed the door on remaining at Gila River Arena in Glendale." The Coyotes will "continue to pursue multiple arena options, including a downtown location or a partnership with a municipality that might help get legislation through the Arizona Legislature in order to help defray the construction cost with a special tax district." The team still "hopes to re-engage" Suns Owner Robert Sarver "regarding a potential downtown location." However, sources said that "any talk of a partnership with the Suns is still considered premature." A source added that Barroway’s buyout will "not impact other executives or personnel in the organization" (ARIZONASPORTS.com, 6/12).
PATH TO SUCCESS? In Phoenix, Sarah McLellan notes Barroway bought a 51% stake in the club in '14 for $152.5M. One former Coyotes minority owner said that this shift "probably makes it easier for Barroway to execute his ideas." The former owner also "believes Barroway’s desire to have more control shows his conviction in the organization." A source said that Barroway is "committed to finding a long-term home for the Coyotes in the Valley," and has "begun a search for a new CEO to lead the team and help with the organization's pursuit for a new arena." But at this point, it is "unclear what Barroway’s plans for the franchise are -- off the ice and on it" (ARIZONA REPUBLIC, 6/13). Also in Phoenix, Greg Moore offers Barroway a list of "priorities" to set. He needs to get the Coyotes a "place to play" downtown. Moore: "It’s the only option, as far as I’m concerned." The Coyotes also need a "star" player, somebody who "appeals to people who wouldn't otherwise care." Barroway should also "engage everybody," as the NHL "should have more contributions from and connections with people from minority backgrounds based solely on the geographic locations of its franchises." Moore: "Things have gotten better, but there’s still room to grow" (ARIZONA REPUBLIC, 6/13).
