By Brandon Brown | Phoenix Business Journal
The sale of the majority share of the Arizona Coyotes was finalized Monday morning, a source familiar with the deal confirmed to the Business Journal.
The specifics of the deal have not yet been made public, but what is known is that billionaire Alex Meruelo purchased a majority share of the National Hockey League team, while current owner Andrew Barroway kept a minor stake. The Athletic reported last week that Meruelo would own 95% and Barroway would have 5%.
In June, the Business Journalfirst reported the team was in the final stages of a sale to Meruelo and on June 19 the NHL Board of Governors approved the sale, which was still pending at the time.
“This is an incredible moment for me and my entire family,” Meruelo 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.”