Meruelo purchased a 95% stake in the Coyotes and will be formally introduced to the media on Thursdaygetty images
New Coyotes Majority Owner Alex Meruelo is the first and only Latino to own a controlling interest in an NHL franchise, and he "could unlock opportunities in a metro Phoenix market" that has a Hispanic population of more than 42%, according to Richard Morin of the ARIZONA REPUBLIC. Meruelo, who purchased a 95% stake in the organization, will be "formally introduced" on Thursday during a press conference at Gila River Arena. The Coyotes are Meruelo's "first sports-related purchase since his terminated bid to buy" the Hawks in '11. Former Coyotes Owner Andrew Barroway retained a 5% minority stake and will "remain with the club as an alternate governor" (ARIZONA REPUBLIC, 7/30).
NEW DIGS? THE HOCKEY NEWS' Ryan Kennedy wrote in Meruelo, the Coyotes have a "deep-pocketed businessman whose empire includes a Las Vegas casino, a chain of pizza places, real estate and construction companies and even TV and radio stations." In addition, Meruelo’s purchase "practically guarantees this franchise will be getting a new building in Arizona in the next few years," as Meruelo has the "deep pockets to keep everything humming until that time." It remains to be seen if a new arena will be the "answer to Arizona's attendance problems," and "only time will tell." But the team had to "try something new and Meruelo gives the Coyotes that chance." Hockey can "certainly work in the desert" with "solid ownership and a rink that people can go to" (THEHOCKEYNEWS.com, 7/29).
