According to sources, the 55-year-old Meruelo purchased a … Building further on his success, Alex assembled and developed a residential and commercial real estate portfolio with holdings throughout Southern California. Alex Meruelo became the Majority Owner, Chairman, and Governor of the Arizona Coyotes on July 29, 2019. “The Arizona Coyotes team is poised to do great things on and off the ice. The Arizona Coyotes moved into their new arena in 2003. Stay in the know. The Arizona Coyotes are nearing the final stages of a sale of the National Hockey League franchise. Barroway graduated from the University of Pennsylvania Law School in 1991. arizonacoyotes.com is the official Web site of the Arizona Coyotes. Alex Meruelo has officially acquired the Arizona Coyotes and hopes to turn the franchise into a winner. GLENDALE, Ariz. (AP) — Shane Doan is returning to the Arizona Coyotes. The Arizona Coyotes are now officially under new ownership, and the new boss says he’s committed to keeping NHL hockey in Arizona.The closing of the transaction gives billionaire businessman Alex Meruelo controlling interest in the franchise from Andrew Barroway, who will keep a minority stake.The 55-year-old Meruelo is the owner of Meruelo Group, a Los Angeles-based STEVE GOLDSTEIN: Ownership drama with the Arizona Coyotes is nothing new. He rebranded it to cater to Latinos by offering toppings such as chorizo and jalapeños. Meruelo could unlock opportunities in a metro Phoenix market that has a Hispanic population of more than 42 percent, according to the U.S. Census Bureau. Andrew Barroway is the Coyotes' Minority Owner & Alternate Governor. By Craig Morgan | July 14, 2017 at 7:50 am UPDATED: July 14, 2017 at 5:06 pm (AP Photo/Ross D. Franklin) New Coyotes owner Meruelo seeks financial sustainability, larger Hispanic fan base Fry and the Arizona Coyotes have been instrumental leaders in growing the game. AD Billionaire entrepreneur Alex Meruelo is the new owner of the Arizona Coyotes. Coyotes owner Alex Meruelo and his family have partnered with Gila River Arena to pay part-time and hourly arena employees scheduled to work the team’s final eight home games. Andrew Barroway is an American hedge fund manager. ... New owner Alex Meruelo is a billionaire and has owned the team over a year now. Extremely proud to have become the only Hispanic majority owner in the history of the National Hockey League, Alex looks forward to helping the Coyotes grow the team's already expansive community involvement in the Valley - and to bringing a Stanley Cup to the state of Arizona. Meruelo, 55, is a son of Cuban immigrants with a history of buying undervalued assets and holding onto them. He served as the Coyotes' Majority Owner, Chairman and Governor from December 31, 2014 to July 29, 2019. The team first played at America West Arena in downtown Phoenix, before moving to Glendale's Gila River Arena in 2003. Subscribe to azcentral.com today. His other business interests include the SAHARA Las Vegas Hotel and Casino, the Grand Sierra Resort and Casino in Reno, and a number of television and radio stations in Southern California. Doan will serve as a strategic advisor to owner Alex Meruelo and general manager Bill Armstrong, supporting the business and hockey operations departments. The Coyotes announced Monday the longtime former captain has been hired as chief hockey development officer. Copyright © 1999-2020 Arizona Coyotes, LLC and the National Hockey League. Arizona Coyotes undefined Alex Meruelo on Monday became majority owner of the Coyotes, making history in the process as the first Latino to have controlling interest of an NHL team. … Doan will report directly to Coyotes President & CEO Xavier Gutierrez and will serve as a strategic advisor to Owner, Chairman & Governor Alex Meruelo and … Richard Morin covers the Coyotes and Diamondbacks for azcentral sports. “It was tough, it was really tough to go through that,” Coyotes co-owner Anthony LeBlanc told Burns and Gambo on Arizona Sports 98.7 FM Tuesday, speaking of … The National Hockey League Board of Governors on Wednesday approved a bid by California billionaire Alex Meruelo to purchase a majority stake in the Arizona Coyotes … The Coyotes announced Monday the longtime former captain has been hired as chief hockey development officer. The most up-to-date breaking news for the Arizona Coyotes including highlights, roster, schedule, scores and archives. Billionaire entrepreneur Alex Meruelo is the new owner of the Arizona Coyotes. Subscribe to azcentral today. Meruelo began his business career working for his father's tuxedo company before purchasing a failing California pizza restaurant. The Arizona Coyotes named Lyndsey Fry as their new radio analyst. An active investor, Alex currently sits on the board of Commercial Bank of California based in Irvine, California. Doan will serve as a strategic advisor to owner Alex Meruelo and general manager Bill Armstrong, supporting the business and hockey operations departments. It is believed that Meruelo would be the first and only Latino owner in the NHL. Meruelo told the Los Angeles Times that the deal was too highly leveraged and that he was asked to pay more than originally asked. He can be reached at rmorin@arizonarepublic.com. The Coyotes’ majority owner, Alex Meruelo, is a billionaire, twice over. Billionaire entrepreneur Alex Meruelo is in advanced stages of purchasing a majority share of the Coyotes, league sources confirmed to … Follow him on Twitter @ramorin_azc. Shortly after graduating, Alex established La Pizza Loca, a fast food pizza business focused on the needs and unique tastes of the local Latino community. The sale to billionaire Alex Meruelo has been completed, meaning former No. The Coyotes compete in the National Hockey League (NHL) as a member of the Pacific Division in the Western Conference. The son of Cuban immigrants, Meruelo is the only Hispanic individual to own a controlling interest in an NHL club. Are you a sports fan? In the release, Meruelo thanked Barroway for his work with the Coyotes. Recent rumors have the Coyotes potentially moving to Houston under new owners, but nothing solid had actually been reported. Coyotes owner Alex Meruelo tapped his friend and business partner Xavier Gutierrez to run a team in a market in which 40% of the population identifies as Hispanic. Your California Privacy Rights/Privacy Policy. Use arrows to navigate between autocomplete results. 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.”. He is the minority owner of the Arizona Coyotes hockey team in the National Hockey League.. All Rights Reserved. Jun 13, 2017. ALEX MERUELOOwner, Chairman & Governor, Arizona CoyotesPresident & CEO, Meruelo Group, LLC. Merion was founded in January 2009. 7,700 talking about this. Starting in the 2021–22 NHL season, the Coyotes are scheduled to return to the Central Division for the first time since the 1997-98 season when the Seattle Kraken joins the league. Arizona Coyotes Owner Andrew Barroway Buys Out Partners For $240 Million. New ownership for the Coyotes is on the horizon. This changes everything in Arizona. The Arizona Coyotes have named Xavier Gutierrez CEO and president, giving the Coyotes the only all-Latino owner-president tandem in NHL history. She will become the fourth woman to fill that role for an NHL team. ANDREW BARROWAYMinority Owner & Alternate Governor. Mr. Barroway is the Managing Partner of Merion Investment Management LP, an event driven hedge fund that currently manages more than $1 Billion. Andrew Barroway, the owner of the Arizona Coyotes, is looking to sell 49% of the National Hockey League team at a $500 million valuation, according to multiple sources. The fact that they are being sent to the Central Division starting in the 2020-21 season only fuels that chatter. It appears that the Coyotes would be Meruelo's first sports-related purchase since his terminated bid to buy the Hawks. 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