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Barroway buys controlling interest in Coyotes
http://nypost.com/2014/10/02/spurned...yotes-instead/
Quote:
The NHL’s problem child franchise in Phoenix is about to change hands again, The Post has learned.
Andrew Barroway, who attempted to buy the Devils two years ago and believed he had an agreement to buy the Islanders earlier this year before Charles Wang switched course and instead reached a deal with Jonathan Ledecky, is in advanced negotiations to purchase 51 percent of the rebranded Arizona Coyotes, according to informed sources.
The sale of the troubled franchise, which has been in financial distress even prior to moving from downtown Phoenix to Glendale in 2003-04 after previously relocating from Winnipeg for the 1996-97 season, is expected to be completed within the month.
As part of the deal, Barroway would agree to drop his $10 million lawsuit against Wang in which he alleges that the Islanders’ owner reneged on an agreement to sell him the Brooklyn-bound franchise.
NHL deputy commissioner Bill Daly declined comment when contacted by The Post. Barroway did not respond to email requests, and a Barroway associate also declined comment when reached by phone.
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update:
Darren Dreger @DarrenDreger
Paperwork has been processed for sale of 51% of Arizona Coyotes to Barroway. Expect announcement tonight.
Last edited by sureLoss; 10-10-2014 at 05:22 PM.
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