Coyotes Approve Andrew Barroway as Majority Owner

On December 31, 2014 the National Hockey League announced that Andrew Barroway, a Philadelphia hedge-fund manager, has been approved by the Board of Governors as the majority owner of the Arizona Coyotes. The teams previous majority owners, IceArizona agreed to sell 51 percent of the Coyotes back in October (they purchased the team in 2013), and it has now officially been announced.

The purchase was for $125.5 million dollars. This is the third team that Barroway has tried to purchase, after the New Jersey Devils and a messy try with the New York Islanders.

There is no telling yet what might change for the team, but there is much speculation that adding Barroway could bring a big financial boost for the ‘Yotes. You can read more about the financial backing of the team in this article by Craig Morgan of Fox Sports Arizona.

What could this bring to the team? Well first of all, it could mean that they could possibly have more money to spend in the offseason on players, depending on what the new owner is willing to bring to the team. There is already talks of trading unrestricted free agent Antoine Vermette for someone big, and this could mean that the team could add even more depth with potentially a bigger allowance.

“Today is an exciting day for the Arizona Coyotes and our great fans,” Anthony LeBlanc said regarding the announcement. “The addition of Andrew Barroway to our ownership group further solidifies the Coyotes long-term future in the Valley. Our entire ownership group is excited about this opportunity to work with Andrew in taking this franchise to the next level. It’s a great day for hockey in Arizona!”

Barroway will take over as the Chairman and Governor for the Coyotes effective immediately, and LeBlanc will stay on as President and CEO.

“This is truly a dream come true for me and my family. I am extraordinarily grateful for the opportunity of a lifetime and look forward to working and solidifying a strong partnership with the Club’s current ownership group,” said Barroway on the acquisition of the team. “As a group we are committed to serving our fans with a new level of excellence and our collective goal is to put a competitive team on the ice every season and, one day, win the Stanley Cup.”