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Andrew Barroway to maintain 51 percent stake in Coyotes

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)

A team source confirmed that Coyotes majority owner Andrew Barroway would maintain his 51 percent stake in the Coyotes after initially agreeing to sell nearly half his shares to other members of the IceArizona ownership group this summer.

According to the source, after Barroway became more involved with the franchise over the summer, he decided he didn’t want to sell, which the source called “a testament to his confidence in the team moving forward and the team’s opportunities in the Valley.”

IceArizona’s Gary Drummond will continue in his lead role overseeing hockey operations and CEO and president Anthony LeBlanc will continue to run the business side.

The source added that the decision is unrelated to the Coyotes’ search for a new arena in the Valley. Arizona Sports reported on Nov. 2 that there are at least three significant possibilities for the Coyotes to remain in the Valley when their agreement with the City of Glendale expires after the 2016-17 season.

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