ARIZONA COYOTES

Andrew Barroway exploring buying out Coyotes’ minority owners

Mar 27, 2017, 3:15 PM | Updated: Mar 28, 2017, 11:26 am
New Arizona Coyotes majority owner Andrew Barroway, right, fist pumps team members, including Mikke...
New Arizona Coyotes majority owner Andrew Barroway, right, fist pumps team members, including Mikkel Boedker (89), of Denmark, after Barroway dropped the ceremonial first puck prior to an NHL hockey game against the Columbus Blue Jackets Saturday, Jan. 3, 2015, in Glendale, Ariz. (AP Photo/Ross D. Franklin)
(AP Photo/Ross D. Franklin)

GLENDALE, Ariz. — The Coyotes minority owners have given majority owner Andrew Barroway the option of buying them out by early summer, multiple sources have confirmed.

Barroway is exploring bringing in new partners to raise the money necessary to do so, with Tampa Bay Rays minority owner Randy Frankel mentioned as a possibility in a newly constructed ownership group.

Two sources said the deadline for that purchase is June 6, but another said that date is approximate, not exact, without providing further information. If Barroway were unsuccessful in his bid to buy out the other owners, it’s unclear if the minority owners would then have the option of buying out Barroway’s majority share in the team.

It is possible none of the scenarios pans out.

It is unclear what plans a newly configured ownership group would have for the team, which has been in search of a long-term arena solution for nearly two years. NHL commissioner Gary Bettman wrote a letter to the Arizona State Legislature earlier this month informing them that: “The Arizona Coyotes must have a new arena location to succeed. The Coyotes cannot and will not remain in Glendale.”

Bettman has steadfastly asserted that the team will remain in Arizona as long as it has arena options, and Bettman still believes the team has arena options.

“We are not giving up on the Coyotes in the greater Phoenix area,” he said after the GM meetings in Boca Raton, Fla., earlier this month. “The fact that the Coyotes are even having discussions about moving out of Glendale is because the city of Glendale chose to terminate the long-term agreement they had with the team. Had they not terminated that agreement, we wouldn’t be having this discussion. The Coyotes are looking at the numerous options they have in the Valley, and we expect one of them to go to fruition.”

A bill to create a special tax district to help fund the construction of an arena has stalled in the Legislature due to a lack of support. That would seem to remove any options involving a municipality unless reworked legislation were introduced at a later date, but a group that wants to build a 20,000-seat arena on Salt River Pima-Maricopa Indian Community land remains interested in negotiating with the team. The arena would be privately funded, with no taxpayer dollars or approval by the Arizona State Legislature required.

The Salt River Pima-Maricopa Indian Community is a sovereign tribe.

Follow Craig Morgan on Twitter

Penguin Air

Arizona Coyotes

Lawson Crouse #67 of the Arizona Coyotes skates with the puck during the NHL game at Gila River Are...
Arizona Sports

Lawson Crouse, Arizona Coyotes agree to 5-year extension

Agreeing to an extension before an arbitration on Monday, Coyotes forward Lawson Crouse will make $4.3 million on average each year.
11 hours ago
Logan Cooley, #3 pick by the Arizona Coyotes, poses for a portrait during the 2022 Upper Deck NHL D...
Arizona Sports

Coyotes’ Logan Cooley to play for U.S. at World Junior Championship

Coyotes prospect Logan Cooley -- the 2022 No. 3 pick -- will represent the United States at the upcoming IIHF World Junior Championship.
1 day ago
Head coach of the Cleveland Monsters John Madden looks on from behind the bench against the Laval R...
Arizona Sports

Arizona Coyotes hire assistant coach John Madden

John Madden joins Andre Tourigny's coaching staff after spending the last two seasons with the San Jose Sharks as an assistant.
13 days ago
Zack Kassian #44 of the Edmonton Oilers celebrates a goal against the Ottawa Senators during the fi...
Sam Graveline

Armstrong: F Zack Kassian perfect fit for new style of ‘Coyotes hockey’

Among the many moves the Coyotes made during the NHL Draft, the sneaky acquisition of veteran forward Zack Kassian could be very important.
16 days ago
Conor Geekie is drafted by the Arizona Coyotes during Round One of the 2022 Upper Deck NHL Draft at...
Alex Weiner

Coyotes’ draftee Conor Geekie sets goal to make impact in 1st season

Arizona Coyotes first-rounder Conor Geekie says he believes he can make the NHL in Year 1 and have an impact.
20 days ago
Conor Geekie, #11 pick by the Arizona Coyotes, poses for a portrait during the 2022 Upper Deck NHL ...
Jake Anderson

Coyotes ink No. 11 overall pick Conor Geekie to 3-year entry-level deal

The Coyotes put pen to paper with forward Conor Geekie, who Arizona traded up to select No. 11 overall in the 2022 NHL Draft.
21 days ago
Andrew Barroway exploring buying out Coyotes’ minority owners