Arizona Coyotes finalize majority ownership sale to Alex Meruelo

Jul 29, 2019, 10:47 AM | Updated: Jul 30, 2019, 1:11 pm
General view outside of Gila River Arena before the NHL game between the Arizona Coyotes and the De...
General view outside of Gila River Arena before the NHL game between the Arizona Coyotes and the Detroit Red Wings on October 12, 2017 in Glendale, Arizona. (Photo by Christian Petersen/Getty Images)
(Photo by Christian Petersen/Getty Images)

Alex Meruelo

The Arizona Coyotes have a new sole majority owner after businessman Alex Meruelo closed on his purchase of the NHL franchise on Monday, the team announced.

“This is an incredible moment for me and my entire family,” Meruelo said in a statement.  “The Arizona Coyotes team is poised to do great things on and off the ice. I look forward to helping hockey continue to thrive in the desert, and I am committed to providing our passionate fans, loyal partners and the entire State of Arizona with a team they can be proud of for years to come.”

The change in ownership has been expected for some time.

As far back as last calendar year, it had been rumored and reported that a change of ownership could be on its way for the Arizona Coyotes, who most-recently had a sole owner in Andrew Barroway. The team said at the time that it was simply exploring investment options and nothing was set in stone, but in June, Meruelo’s name and further progress toward a deal both came into the spotlight.

At the NHL Board of Governors meeting on June 19, the league approved the sale of the Coyotes to Meruelo. That didn’t make it official, though, as even before the vote it was known that the deal wouldn’t close until later in the summer.

Now, finally, it is complete.

The sale makes Meruelo, 55, the only Hispanic controlling owner of an NHL team, a press release from the team said.

“Mr. Meruelo is a proven winner and his track record of multi-faceted and dynamic business accomplishments makes us well-positioned for continued growth, progress and long-term success here in Arizona,” team president and CEO Ahron Cohen said in a statement. “Today marks a major step forward for our organization and our great fans and partners.”

Barroway will still keep a minority stake in the team and become an alternate governor along with Cohen and general manager John Chayka.

“It has been an honor and a privilege serving as the Chairman and Governor of the Coyotes,” said Barroway in a statement.  “I am proud of the work we did to make this organization better, and I am pleased to be passing the torch to someone who will guide this franchise to great days ahead.”

According to an LA Times article, Meruelo owns a chain of pizza restaurants in Los Angeles called La Pizza Loca; SLS Las Vegas, a casino on the Las Vegas Strip; the Grand Sierra Resort hotel and casino in Reno, Nev.; and real estate, construction companies, a bank, two TV stations, hip hop radio stations and more.

The Coyotes enter the 2019-20 season with one of the highest salary cap hits in the NHL. That, in recent history, hasn’t been close to being the case.


Comment guidelines: No name-calling, personal attacks, profanity, or insults. Please keep the conversation civil and help us moderate comments by reporting abuse.
comments powered by Disqus

Arizona Coyotes

Arizona Coyotes center Travis Boyd (72) celebrates with teammates after scoring a goal against the ...
Associated Press

Coyotes win 2nd straight game; defeat Devils to open road trip

Karel Vejmelka made 35 saves to help lead the Arizona Coyotes to a 4-1 win over the New Jersey Devils on Wednesday night.
2 days ago
Goaltender Karel Vejmelka #70 of the Arizona Coyotes is congratulated by Phil Kessel #81 after defe...
Jake Anderson

Coyotes announce 5 rescheduled games in February due to COVID-19

The Coyotes will play five rescheduled games during the month of February, three of which will take place at Gila River Arena in Glendale.
2 days ago
Ryan Dzingel #10 of the Arizona Coyotes warms up before the NHL game against the Columbus Blue Jack...
Jake Anderson

Coyotes put Dzingel in COVID-19 protocols; Chychrun activated

The Arizona Coyotes have placed forward Ryan Dzingel in the NHL’s COVID-19 protocols, the team announced on Wednesday.
2 days ago
Antoine Roussel #26 of the Arizona Coyotes skates with the puck during the NHL game at Gila River A...
Arizona Sports

Coyotes place forward Antoine Roussel in COVID-19 protocol

The Arizona Coyotes placed veteran forward Antoine Roussel in the NHL's COVID-19 protocol on Tuesday among a series of roster moves.
3 days ago
Arizona Coyotes' Clayton Keller (9) left, celebrates with Travis Boyd (72) and Nick Schmaltz (8) ri...
Associated Press

5 different Coyotes score in blowout win over Canadiens

Nick Schmaltz and Johan Larsson each had a goal and an assist in the Arizona Coyotes' 5-2 win over the Montreal Canadiens on Monday.
4 days ago
Colorado Avalanche goaltender Pavel Francouz (39) makes a save against Arizona Coyotes center Nick ...
Associated Press

Coyotes shut out by former goalie Darcy Kuemper in loss to Avalanche

GLENDALE, Ariz. (AP) — Mikko Rantanen and Nathan MacKinnon scored two goals each, Darcy Kuemper had 20 saves for his first shutout of the season, and the Colorado Avalanche beat the Arizona Coyotes 5-0 on Saturday night. Nazem Kadri also scored as Colorado had three goals in a 3:41 span of the second period to […]
6 days ago
Arizona Coyotes finalize majority ownership sale to Alex Meruelo