By Darrell Jackson | The Glendale Star
The drama that is the Arizona Coyotes is now affecting ownership of the team after it is being reported that new majority owner Andrew Barroway has decided to relinquish control of the team.
Sources say the decision was mutual and that Barroway will become a minority owner of the team and retain his title as governor of the team.
Sources say that the deal has been underway since the NHL season ended in April and that Barroway and that it was a mutual decision.
Barroway is the Managing Partner of Merion Investment Management LP, an event driven hedge fund that currently manages more than $1 billion.
Reports say that Barroway had not paid all the money he agreed to become majority owner of the team and Anthony LeBlanc, president of the Coyotes, was asked during a recent press conference.
