ICYMI: Struggling NHL franchise sold to New York billionaire

In case you missed it, the Arizona Coyotes officially introduced new majority owner Alex Meruelo to its fanbase yesterday afternoon. Meruelo purchased a 95% ownership stake from former majority owner Andrew Barroway, while Barroway retains 5% ownership.

Check it out:

The curious thing about Meruelo’s purchase is that the New York born, Los Angeles based billionaire has no apparent ties to the Phoenix, AZ area. This, of course, has Coyotes fans a little concerned. After all, the team has had a difficult time in Arizona the past decade and there’s no guarantee that they’ll remain in the area longterm. 

Media analysts contend that the Coyotes need a new, centrally located arena that is easier for Phoenix residents to get to during weeknight games. The Coyotes currently play out of Gila River Arena in Glendale, Arizona which is approximately 12 miles (20 kms) outside of Phoenix. 

Of course, there’s always the possibility that Meruelo relocates the team back to Phoenix with the construction of a new downtown arena. Stay tuned, Coyotes fans.